Hello Everybody,
Our Albanian counterparts in the oil and gas business, Bankers Petroleum, put out some very good news today that involves our major financial backer, the European Bank for Reconstruction and Development (EBRD). As per the News Release, Bankers is negotiating a $110 million (U.S.) long term credit facility with the IFC and the EBRD to finance upcoming capital requirements and working capital in Albania.
I think this is of significant interest to Tirex shareholders for a few reasons. First off, it's great to see another resource financing in Albania by the EBRD. Being the first resource company in Albania to receive EBRD financing, Tirex is pleased to see their expanding involvement in this sector, an important sector in the Albanian economic growth story. Secondly, this shows the ongoing support and assistance the EBRD can provide through a company's various stages of growth. The EBRD, unlike some investors in the resource space, has a true long term vision and mandate. The EBRD was established in 1991 and is owned by 61 different countries and two intergovernmental institutions. Recently, the EBRD announced they plan to make a substantial increase in investments in 2009 as a direct response to the impact of the global financial crisis. The Bank is very strongly capitalized and plans to invest around 7 billion euro across its countries of operations this year.
Congratulations to Bankers Petroleum on today's announcement. We believe that the future is bright in Albania and Tirex is proud to be first movers in conducting large scale mineral exploration in the country, based on modern technology and geological interpretations.
We look forward to bringing you more news soon as news flows from our District-scale program at Mirdita.
Regards,
Bryan
www.tirexresources.com
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Tirex Resources Ltd.
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PRODUCER |
CODE : TXX.V |
ISIN : CA88823P1045 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Tirex is a gold exploration company based in Canada. Tirex produces gold, copper and zinc in Albania. Its main asset in production is MIRDITA in Albania. Tirex is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 7.5 millions as of today (US$ 6.0 millions, € 4.9 millions). Its stock quote reached its highest recent level on March 07, 2008 at CA$ 4.17, and its lowest recent point on December 15, 2017 at CA$ 0.02. Tirex has 114 640 000 shares outstanding. |