CoAL, Yishun conclude share placement
JOHANNESBURG (miningweekly.com) – Triple-listed Coal of Africa Limited (CoAL) has completed a 183-million share placement to Yishun Brightrise Investment, at 5.15p apiece, raising £9.4-million.
This satisfied the remaining conditions in the loan agreement between Yishun and CoAL pursuant to which Yishun had advanced a loan of $10-million to CoAL.
The subscription proceeds and loan amount would be used to finance preconstruction costs at CoAL’s flagship Makhado coking and thermal coal project, in Limpopo, as well as for general working capital.
Yishun also expressed an intention to acquire a strategic interest in the Makhado project and discussions between the parties would continue.
This included an equity investment in the Makhado project; the provision of a shareholder loan on commercial terms providing the funds required for the development of the colliery; and the award of Makhado’s engineering, procurement and construction contract on commercial terms.
“The proceeds will also be used to settle obligations prompted by the granting of the Makhado project’s new order mining right, as well as those that will be triggered by the granting of the integrated water use licence, expected in due course,” CoAL CEO David Brown said.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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