Elemental Minerals Completes $10 Million Drawdown

Elemental Minerals Ltd (ASX;ELM TSX:ELM) has completed a previously announced drawdown of $10 million of the $15 million available under the Convertible Note Facility provided by Dingyi Group Investment Limited. Elemental Minerals will use the funds to progress further work on its Sintoukola Project while the Dingyi Offer continues in accordance with agreed procedures for expenditure.

According to the press release:

In its announcement on 24 December 2013, the Company also noted Dingyi had requested a review by the SEHK Listing Committee of the decision to classify the Dingyi Offer as a reverse takeover under Rule 14.06(6) of the SEHK Listing Rules.

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