Mirabela to Draw Down Remaining US$10 Million from $45-million Loan

Mirabela Nickel Ltd. (ASX:MBN) announced that the ad-hoc committee of holders of more than 65 percent of the company’s unsecured notes due April 15, 2018 will allow Mirabela to draw down upon the US$10 million still available under a $45-million loan obtained in December 2013.

As quoted in the press release:

The Ad-Hoc Group also remains committed in support of the proposed comprehensive recapitalisation of the Company announced on 25 February 2014 (Recapitalisation Proposal).

The remaining funds available under the Loan will be used to support the Company and the Company’s subsidiary, Mirabela Mineração do Brasil Ltda, and its continued operations at the Santa Rita nickel mine.

Click here to read the full Mirabela Nickel Ltd. (ASX:MBN) press release.