Pacific Nickel Update

RNS Number : 0088P

Gunsynd PLC

15 June 2022

 

15 June 2022 

Gunsynd PLC

("Gunsynd" or the "Company")

Offtake & Project Debt Mandate Awarded to Glencore for the Kolosori Project

Gunsynd Plc (AIM: GUN, AQSE: GUN) notes the announcement by its investee company Pacific Nickel Mines Limited ("Pacific Nickel"), which is listed on ASX (ASX: PNM).

Pacific Nickel has entered into a non-binding indicative term sheet with Glencore for a 3-year, US$22 million Pre-Export Finance Facility and a 4-year offtake arrangement for all of Kolosori's production which can be extended by a further 2 years by mutual agreement.

The proposed debt facility will cover a substantial portion of the pre-production investment required to develop the Kolosori Project.

It is envisioned that the US$22 million debt facility will comprise a US$17 million construction tranche and a US$5 million reserve tranche.

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company's ability to execute and implement future plans, and the occurrence of unexpected events.  Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

For further information please contact:

The Directors of Gunsynd accept responsibility for this announcement.

For further information, please contact:

Gunsynd plc Hamish Harris/ Peter Ruse	[phone]
Cairn Financial Advisers LLP James Caithie / Liam Murray	[phone]
Peterhouse Capital Limited Lucy Williams	[phone]

 

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