Namib Minerals Signs Indicative US$30 Million Ecobank Term Sheet for Redwing Bankability Programme
Namib Minerals' subsidiary Bulawayo Mining Company signed a non-binding term sheet with Ecobank Zimbabwe for a proposed non-dilutive $30 million, 36-month loan facility to fund the Redwing Mine resource-definition and bankability programme. The facility would cover hoist expenditures, milling plant expansion, drilling equipment and mine development, and together with the previously secured $6.5 million BancABC loan is expected to complete funding for Step 3 of the company's Development Milestones.
Key figures
- Deal Value Usd
- 30000000
- Dilutive
- No
- Prior facility usd
- 6500000
- Facility tenor months
- 36
AI analysis
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