[miningmx.com] – SHAREHOLDERS in Buffalo Coal Corporation approved an increase to the $25m convertible loan facility to $29m signed with Resource Capital Fund (RCF) which is the firm’s largest investor.
It added that it was pressing ahead with a second wave of restructuring at its Aviemore and Magdalena mines in South Africa’s KwaZulu-Natal province and that it was consulting with the authorities on changes to its business.
“The ongoing support from RCF and other shareholders has and continues to play a critical role in the turn-around of Buffalo Coal to enable it to rebuild its long term sustainability and profitability,’ said Craig Wiggill, chairman of Buffalo Coal Corp.
