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There was some important news today:-
10 YEAR LICENSE EXTENSIONS AND US$35M DEBT FINANCING FACILITY
http://boards.fool.co.uk/rrl-quotrnsquot-from-oz-12763071.as...

- Morne Diablo and South Quarry licenses extended for an additional
ten year period;

- 3,000 acres added to the east of the existing Morne Diablo
license, extending current Lower Forest development trend while adding
potential for other, deeper targets;

- Enhanced Royalty reduced from previous farm out agreements - net
back increased to $40 / bbl based on 1,000 bopd increasing to $50 on 2,000
bopd; and

- Finalisation of US$35m Debt Financing Facility.

US$35m Debt Financing Facility


Share price progress was muted in modest volumes, perhaps because of the 12% rate of interest on the loan. IMO though it is good that 5p seems to have become really well established as resistance.

Tom
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