Resource And Investment Nl announced that the company has successfully negotiated an increase and extension of the company's finance facility with Taurus Resources No.2 Fund. The original Taurus facility has been increased from $15 million to $19.5 million. The date for repayment of the facility has been extended by approximately 12 months to February 7, 2015. The facility has enabled RNI, through its wholly owned subsidiary, Grosvenor Gold Pty Ltd, (Grosvenor Gold) to exercise an option to acquire from Montezuma Mining company Ltd. 100% of the issued capital of Peak Hill Metals Pty Ltd. Peak Hill Metals owns the historic Peak Hill gold project, which adjoins RNI's Grosvenor gold project in Western Australia's highly-prospective Bryah Basin region. Peak Hill has JORC compliant gold resources of 550,000 ounces which, when combined with RNI's Grosvenor project, gives the company a combined gold inventory of ~2Moz. As per the terms of the agreement, the consideration payable
to Montezuma comprises $2.8 million in cash, 8.4 million fully paid ordinary RNI shares and 2.1 million unlisted RNI options exercisable at 35% per share within three years from the date of issue.