DGR Global Limited (ASX: DGR), a company involved in the creation of resource exploration, development, and mining companies that identify resource projects capable of yielding world-class discoveries, has announced the receipt of the first tranche of proceeds from the sale of its interest in Solgold to Jiangxi Copper (Hong Kong) Investment Company Limited. The sale was executed at 28 pence per Solgold share.
The company confirmed that it has successfully received the initial tranche of funds related to the shares held directly by DGR. In accordance with the terms outlined in the loan facility agreement with Samuel, DGR has repaid the facility, resulting in net proceeds of approximately $45 million.
DGR anticipates receiving the proceeds from the second tranche of shares early in April, after accounting for the repayment of Equities First loan facilities. The company projects that the second tranche will yield approximately $23 million, subject to prevailing exchange rates.
The DGR Global board is currently evaluating the outcomes of the settlement and determining the optimal use of the funds received. An update will be provided to the market upon completion of this review and finalisation of any decisions.
