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The loan is repayable in instalments over six and a half years, with an interest rate of 6%. It's with Kazakh Bank.
"After exploring a number of opportunities and an extensive due diligence period we are very pleased to update our shareholders on the funding approval. The proceeds will accelerate our growth strategy by expanding production and processing capacity towards our midterm target of 1 million tpa," CEO Aidar Assaubayev said.
The loan is subject to the passing of internal procedures at the bank.
"Timely execution of this ambitious plan should set the stage for a sustainable dividend policy," Assaubayev said.
AltynGold's share price surged 26% day on day to £1.08 (US$1.30) at market close on July 25. It's the highest the stock has closed a session at since late June.
