MVELA SELLS SHARES TO PAY DEBT

Mvelaphanda Resources yesterday announced that it had taken advantage of the recent strength in the Gold Fields' share price to sell 11 million Gold Fields shares to redeem about half its debt obligation, Mvela Resources said.

Mvelaphanda Resources yesterday announced that it had taken advantage of the recent strength in the Gold Fields' share price to sell 11 million Gold Fields shares to redeem about half its debt obligation, Mvela Resources said.

This comes two weeks after Mvela Resources announced that it had refinanced the R2billion mezzanine debt relating to the 2004 acquisition of 50 million Gold Fields shares. - I-Net Bridge

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