MINING WEEKLY
Cape Alumina raises funds with help of major shareholder
Edited by : AL CIRCLE
1 min read
ASX-listed Cape Alumina has signed a binding term sheet to raise between A$3.5-million and A$5-million through the issue of a convertible note with its largest shareholder Resources Capital Fund.
The convertible note would allow Cape Alumina to draw down on its facility to ensure the timely funding to further advance its Bauxite Hills project, in Queensland, as well as other corporate activities.
The value of the convertible note would be between A$3.5-million and A$5-million, and would depend on the total value of other equity raised by the firm, Cape Alumina said on Friday.
The convertible note would allow Cape Alumina to draw down on its facility to ensure the timely funding to further advance its Bauxite Hills project, in Queensland, as well as other corporate activities.
The value of the convertible note would be between A$3.5-million and A$5-million, and would depend on the total value of other equity raised by the firm, Cape Alumina said on Friday.
Previous article
Tan Rai bauxite plant pollutes
Next articleBauxite exploration depends on location of useful reserves
Grow with
AL Circle
