Kaiser Reef (ASX:KAU) repaid in full, and on schedule, the senior secured gold loan provided by Auramet International to partly fund its acquisition of the Henty Gold Mine, according to a Monday Australian bourse filing.
The company made the final delivery of 104 ounces of gold in October, completing repayment of the 1,872-ounce loan, funded entirely from operating cash flow at Henty, the filing added.
The repayment removes delivery obligations worth about AU$600,000 each per month at current gold prices, immediately increasing retained operating cash flow, Kaiser Reef said.
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