Lydian International gets US$25mln loan advance as construction continues apace in Armenia’s Amulsar mine

YEREVAN, JULY 4, ARMENPRESS. Lydian International will get US$25mln first advance from its loan with Orion and Resource Capital Fund for its construction works in Armenia’s Amulsar Gold mine, according to proactiveinvestors.com.

The loan has been revised to provide immediate funding of $25mln in a first advance and a second of $25mln by August 15 this year.

Lydian International plans to begin first gold extraction in the first half of 2018.

"We are very pleased to receive this funding during the peak of our construction season," said Howard Stevenson, the president and chief executive at Lydian.