https://www.miningweekly.com
Africa|Copper|Exploration|Indaba|Logistics|Mining|PROJECT|Projects
Africa|Copper|Exploration|Indaba|Logistics|Mining|PROJECT|Projects
africa|copper|exploration|indaba|logistics|mining|project|projects

Marula signs two agreements with Q Global subsidiary

16th February 2023

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

Africa-focused battery metals investment and exploration company Marula Mining has signed a co-development agreement and a relationship agreement with K2020273872 (South Africa), a wholly owned subsidiary of Q Global Commodities Group, a South African independent commodity, mining, logistics and investment funds.

The signing of the agreements follows the earlier signing of a £3.75-million subscription agreement with Q Global.

It is intended that Q Global CEO Quinton van der Burgh will be appointed chairperson of the Marula board of directors, subject to various conditions, including completion of all normal regulatory approvals, due diligence and the proposed admission to trading of Marula’s shares to Aim.

The co-development agreement sets out the broad technical and strategic support that is to be provided to the company by Q Global to allow for the accelerated development of its current portfolio of mining projects in Africa.

The co-development agreement further provides the opportunity for Q Global to participate directly through the co-development of the company’s current projects and new projects identified by Marula.

Marula’s shares are currently traded on the AQUIS Stock Exchange (AQSE) and it is exploring opportunities to admit its shares to trading on the LSE’s Aim.

The relationship agreement sets out the terms of the relationship between Q Global, the company and the company’s AQSE corporate adviser.

Under the relationship agreement, which is conditional on the first subscription under the subscription agreement, among other things, Q Global undertakes to act for the benefit of the shareholders of Marula, as a whole; to conduct transactions between itself and the company on an arms-length basis; and to not unduly or improperly influence the running of the company.

The initial subscription is conditional on, besides other things, a Rule 9 waiver being obtained in accordance with the City Code on Takeovers and Mergers and shareholder approval at a forthcoming general meeting of the company.

“It is very pleasing to have signed both the co-development agreement and relationship agreement.

“Having recently met with the Q Global team and Quinton van der Burgh at the Mining Indaba Investment Conference in Cape Town, I am delighted by this partnership and the potential opportunities for Marula and our shareholders,” says Marula CEO Jason Brewer.

Marula has interests in several high-value mine projects in Africa, including Blesberg lithium and tantalum mine, in South Africa; the Nkombwa Hill project, in Zambia; and the Kinusi copper mine and Bagamoyo graphite project, in Tanzania.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

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:0.136 0.169s - 89pq - 2rq
Subscribe Now