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Deutsche Rohstoff AG: Almonty closes USD 14 million working capital financing and acquires Panasqueira mine in Portugal

DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous
Deutsche Rohstoff AG: Almonty closes USD 14 million working capital
financing and acquires Panasqueira mine in Portugal

07.01.2016 / 08:09
The issuer is solely responsible for the content of this announcement.

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Deutsche Rohstoff: Almonty closes USD 14 million working capital financing
and acquires Panasqueira mine in Portugal
New Resource estimate for the Sangdong project

Heidelberg/Toronto. Almonty Industries (DRAG share 13,7%) announced, that
it reached an agreement with UniCredit Bank with respect to an expansion of
its existing guaranteed loan agreement by up to USD 14.0 million. The loan
carries an interest rate of LIBOR plus a spread of 1.5%. Draw downs can be
made depending on production and prices. Repayment will only begin when APT
prices exceeds USD 254/mtu (currently around USD 180/mtu) and accelerating
in repayment at USD 320/mtu. Furthermore, Deutsche Rohstoff issued a
short-term loan to Almonty. The 6% bearing promissory note in the principal
amount of USD 1 million is due and payable 1 January 2017 and is secured
with the South Korean Sangdong asset.

Almonty also announced that it has acquired a 100% ownership interest in
Beralt Ventures Inc. ("BVI") from Sojitz Tungsten Resources, Inc. BVI,
through its wholly-owned subsidiaries, is the 100% owner of the various
rights and interests comprising the Panasqueira tungsten mine in Covilha,
Castelo Branco, Portugal. Almonty acquired 100% of the shares of BVI for
EUR 1.00 and purchased EUR 12,26 million in aggregate principal amount of
debt owed by Sojitz Beralt Tin & Wolfram (Portugal), S.A., a wholly-owned
subsidiary of BVI, to Sojitz Corporation of Japan in exchange for a cash
payment of EUR 1 million on closing and a promissory note issued by Almonty
in the principal amount of EUR 0.5 million bearing interest at 4% per
annum, maturing 29 December 2017.

In another release, Almonty announced the filing of an updated NI 43-101
Technical Report for the Sangdong Tungsten Mine in South Korea. Including
the newly acquired Panasqueira tungsten mine in Portugal, Almonty's current
resources are as follows:

- 12.9 million tonnes combined proven and probable mineral reserves at an
average grade of 0.32% WO3-equivalent

- 20.27 million tonnes measured and indicated mineral resources
(inclusive of reserves but excluding tailings and other stockpiles) at
an average grade of 0.32% WO3

- 76,85 million tonnes inferred resources at an average grade of 0.36%
WO3-equivalent.

The Almonty group now consists of the three producing mines in Los Santos
(Spain), Panasquiera (Portugal) and Wolfram Camp (Australia) as well as the
two development projects Sangdong (South Korea) and Valtreixal (Spain).

Detailed press releases and resource updates can be found on Almonty's
website http://www.almonty.com.

Heidelberg, 7 January 2016

Deutsche Rohstoff identifies, develops and divests attractive resource
projects in North America, Australia and Europe. The focus is on the
development of oil and gas opportunities within the United States. Metals,
such as gold, copper, rare earth elements, tungsten and tin complete our
portfolio. For more information please visit www.rohstoff.de.

Contact:

Deutsche Rohstoff AG
Thomas Gutschlag
Tel. [phone]
[e-mail]


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07.01.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Deutsche Rohstoff AG
Friedrich-Ebert-Anlage 24
69117 Heidelberg
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Entry Standard (Performance TOP 30)
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Stuttgart; Open Market (Entry Standard) in Frankfurt


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