https://www.miningweekly.com

Tertiary secures funding for Nevada projects

20th November 2019

By: Creamer Media Reporter

     

Font size: - +

Aim-listed Tertiary Minerals has secured up to £622 000 to fund the planned exploration programmes on its recently acquired Pyramid Gold and Paymaster polymetallic projects, in Nevada, US.

The company entered into a convertible securities issuance deed with US-based Bergen Global Opportunity Fund in connection with an issuance of zero coupon convertible securities having a nominal amount of up to £653 000.

“The current market for natural resource companies remains very challenging and we are therefore pleased to have secured a flexible method of financing as opposed to a straight equity raise which, in the current market, often come at a large discount to the share price and would be highly dilutive,” said MD Richard Clemmey.

The convertible securities would be issued in tranches, with the initial convertible security having a purchase price of £232 000 and a nominal value of £263 000.

Each of the convertible securities would have a term of 24 months.

"The staged funding now enables the company to move ahead with exploration and development on our two new exciting projects, Pyramid and Paymaster,” said Clemmey.

 

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT 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 

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:0.047 1.355s - 111pq - 2rq
Subscribe Now