Bellzone Mining receives £451,000 loan

1st Sep 2014 14:38

Bellzone Mining, the Republic of Guinea-focused miner, has announced it will receive $750,000 (£451,000) from China Sonangol International.The payment, received under the loan agreement the two companies stipulated on 18 August, will see the total received by the mining firm rise to $1.5m.The group has said it expected the new payment to allow operations to continue until mid-September.In a note to investors on Monday, analysts at SP Angel said Bellzone's finances continued "to look precarious at the company with the latest draw-down giving little breathing space."Bellzone shares were up 9.48% to 0.635p at 14:08 on Monday.DC