Vatukoula Gold Mines awaits new cash

Vatukoula Gold Mines said Zhongrun International Mining is awaiting approval to provide the second $20m tranche of a $40m funding agreement.
This is relating to the Vatukoula Gold Mine.
Zhongrun is awaiting approval from the State Administration of Foreign Exchange (SAFE) of the People’s Republic of China.
It expects the clearance of these funds to be granted during March.
As of yesterday 8:31am (LON:VGM) Vatukoula Gold Mines PLC share price was +0.12p at 7.25p.
The funding by Zhongrun is part of a long-term strategy to reposition Vatukoula Gold Mine and to assist the mine in achieving its long-term production targets of in excess of 100,000 ounces per annum.
In an earlier report it was noted that the next 10 million of equity was anticipated to be completed by the end of the month October.
The remaining $20 million was to have been completed by the end of January.  --Vatukoula Gold Mines PLC