SNR continuing talks with potential investors
JOHANNESBURG (miningweekly.com) – London-listed junior Strategic Natural Resources (SNR) is continuing discussions with potential investors and said on Wednesday it remained optimistic that it would conclude a transaction in the near future.
The company is looking for an investment from a new partner to help it repay its short-term bridging finance, which is due by the end of the month, as well as to accelerate the development of the Elitheni mine, in South Africa’s Eastern Cape.
SNR said Land Consultants Limited (LCL) has indicated that it is willing to extend the July 30 loan repayment deadline to allow for the completion of an investment by a strategic investor, should an extension be required.
In the event that SNR fails to secure an investment, the board would renegotiate the payment of the LCL facility and consider alternative ways of repaying its debt, including issues of equity or the taking on of additional funding.
“It continues to be the board's intention that any investment in SNR would not trigger an offer under the Takeover Code or that any investment in the company's 74%-owned subsidiary, Elitheni Coal would result in the company's shareholding in Elitheni falling below 51.0%,” the coal miner stated.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















