https://www.miningweekly.com

Mustang amends Arena financing

22nd May 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Ruby miner Mustang Resources has amended the terms of a A$19.95-million investment facility from US investor Arena Investors.

The amendments would see Mustang split the second tranche of the funding into two parts, reducing the amount of the second tranche from the original A$3.8-million to A$1.99-million, and deferring the balance of the original second tranche drawdown until either June or July.

The reduction in the original second tranche funds would result in less potential equity dilution for existing shareholders, but would not adversely affect the funding of Mustang’s planned project activities in June and July.

Mustang MD Bernard Olivier noted that Arena’s overall financial commitment had not changed.

“The continued strong support from Arena, a major global institutional investor managing in excess of $750-million, is testimony to the quality of Mustang’s Montepuez ruby and Caula vanadium/graphite projects,” Olivier said.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ABB Electrification
ABB Electrification

Electrifying the world in a safe, smart, and sustainable way, ABB Electrification is a global technology leader in electrical distribution and...

VISIT SHOWROOM 
Environmental Impact Management Services
Environmental Impact Management Services

EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.048 1.181s - 110pq - 2rq
Subscribe Now