Kropz (AIM:KRPZ), the AIM-listed emerging African phosphate producer and developer, said its subsidiary Kropz Elandsfontein (Pty) has drawn down ZAR100 million from a bridge loan facility agreed with Ubunto-Botho Investments (Pty) Ltd.
The facility, agreed on 15 July, totals ZAR200 million, approximately $12.3 million, with the latest drawdown representing the first half of that sum.
Kropz did not disclose further terms of the loan or the intended use of proceeds beyond confirming the drawdown.
