https://www.miningweekly.com

Northern Minerals open to more funding

3rd March 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Northern Minerals on Tuesday told shareholders that the company could seek further funding in the form of debt, equity or both to progress its Browns project, on the border of Western Australia and the Northern Territory.

The announcement comes as Northern Minerals announced that Chinese investor China’s Baogang Group Investment had agreed to voluntary extend the date for Foreign Investment Review Board approval for a A$20-million investment from February 27, to March 5.

Under the agreement with Baogang, Northern Minerals would issue more than 322.58-million shares, at a price of 6.2c each, to raise the funds.

The funds raised from the share placement will be used to progress project enhancement initiatives at the Browns Range project, which will include the evaluation of ore sorting and product separation, as well as increased exploration.

Northern Minerals on Tuesday said that the company was regularly in discussion with third parties in various jurisdictions about potential funding opportunities, and in some cases, allowed the parties to access due diligence materials and conduct site visits to facilitate potential investments.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

ASTPM
ASTPM

Established in 1983, the ASTPM is an industry association and representative body of the welded carbon steel tube and pipe manufacturers of South...

VISIT SHOWROOM 
AirNox Pty Ltd
AirNox Pty Ltd

AirNox (Pty) Ltd is a level 1 BBBEE manufacturer of complete AdBlue® solutions for operators of SCR diesel engines and AUS40 across South Africa...

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:0.053 0.92s - 128pq - 2rq
Subscribe Now