The Board of Sunkar Resources plc (AIM:SKR) announces on June 27th, 2012 that its wholly owned subsidiary, Temir Service LLP has repaid a total of $2.5 million to ATF Bank Kazakhstan scheduled for repayment before 01 July 2012 in accordance with the terms of the refinancing announced on 10 May. This news made the stock price jump 71.1% yesterday.
The Company is planning to pay the remaining $2.5mn by December 31, 2014 in monthly installments.
Sunkar Resources plc was incorporated in England on 28 March 2006 with the registration number 05759399 and listed on London’s AIM Market in June 2008. The Company principally operates in Kazakhstan and aims to be an integrated phosphate fertilizer manufacturer. The Company has a 100% interest in Temir-Service LLP, a limited liability partnership established under the laws of the Republic of Kazakhstan. Temir Service holds the Subsoil Use Contract for the Chilisai phosphorite deposit in NW Kazakhstan.