RE: Up 10%2 Nov 2018 09:52
Ongoing site visits by potential strategic investors, at both the corporate and project levels, to secure outstanding development capital for Sonora
-- To date US$240 million or 52% of the US$460 million required for Stage 1 production of 17,500 tpa of Li2CO3 at Sonora has been conditionally committed as follows:
o US$150 million senior debt facility secured with RK Mine Finance
o US$65 million conditional equity commitment from the State General Reserve Fund of Oman ("SGRF")
o US$25 million conditional equity commitment from Bacanora's off-take partner, Hanwa Co., LTD ("Hanwa")