Media Room

Novo supports Calidus raising

Junior explorer Calidus Resources will raise up to A$10-million in a share placement to investors in Australia, Asia and North America.

The ASX-listed company on Wednesday announced that about 243.9-million shares would be issued at a price of 4.1c a share to new and existing institutional and sophisticated investors.

Tiger recapitalises with $18.2m facility

Copper miner Tiger Resources has secured an $18.2-million facility to support ongoing operations and to fund initiatives to improve the performance of its Kipoi copper project, in the Democratic Republic of Congo.

The new facility, which has a 13% a year interest rate, was agreed to with two of Tiger’s current senior lender group, and will run until the end of September 2018.

CoAL updates Uitkomst reserves

South Africa-focused Coal of Africa Limited (CoAL) has reported resources and reserves of 26.9-million-tons at its recently acquired Uitkomst Colliery.

The company also said on Tuesday that it would apply to have the project’s new order mining right extended from October 2023 to align with the colliery’s remaining 17-year mine life.