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GobiMin unit secures US$4M loan facility

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GobiMin unit secures US$4M loan facility

GobiMin Inc.unit GobiMin Silver Ltd. has entered into a US$4 million revolving term loan facilitywith China Precision Material Ltd.

According to an April 7 statement, the loan facility bears aninterest rate of 3.5% per annum, will have an initial six-month term ending Oct.6, and may be extended by mutual consent.

Closing of the loan is subject to receipt of all applicable regulatoryand exchange approvals.

GobiMin Silver owns a 38.30% indirect equity interest in ChinaPrecision Material, which engages in the trading of metals, predominately silver,in Hong Kong.