https://www.miningweekly.com
Mining|PROJECT
Mining|PROJECT
mining|project

Sayona welcomes US investor

10th January 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Lithium hopeful Sayona Mining has secured A$2.75-million in funding from US investor Obsidian Global GP.

The funding will include an initial A$1-million tranche of convertible notes, with the notes priced at $1 each, and having a face value of $1.10 each. The notes will not accrue any interest, and will have a 12-month maturity date.

Additional convertible notes to raise a further A$1.75-milion will be subject to shareholder approval.

“We are delighted to welcome Obsidian Global as a new investor at this crucial stage in the company’s development,” said Sayona MD Brett Lynch.

“The upturn in Sayona’s market value and trading activity since the start of the new year reflects increased investor confidence, not only in our company but the lithium sector as a whole, and we are determined to build on this momentum in 2020.”

Lynch said that with the upcoming potential re-rating catalysts, including Sayona’s bid for the North American Lithium (NAL) operation, as well as the advancement of the Authier project’s regulatory approval process and the development of the nearby Viau-Dallaire prospect, there was enormous potential for increased market value, providing benefits to stakeholders.

Edited by Creamer Media Reporter

Comments

Latest News

Resources Watch
Resources Watch
27th March 2024

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
SMS group
SMS group

At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.135 0.172s - 89pq - 2rq
Subscribe Now