https://newsletter.mw.creamermedia.com
Mining|PROJECT|Resources
Mining|PROJECT|Resources
mining|project|resources

MRC secures A$2.4m loan from shareholders

17th October 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Graphite miner and developer Mineral Commodities (MRC) has secured a loan of A$2.4-million from existing shareholders, including Au Mining and four others.

The ASX-listed company will use A$250 000 to pay Garnet International Resources, in accordance with a standstill agreement, and A$250 000 will be used as a nonrefundable deposit to acquire 49% of the Munglinup project, in Western Australia.

The balance of the funds will be used for working capital at the Skaland graphite project, in Norway, as well as corporate and general working capital.

Subject to MRC shareholder approval, Au Mining may convert the loan into ordinary shares at a price of A$0.015 a share.

The company is also in discussions with a third party for the sale of its 100% share in the Skaland graphite mine and says it will provide an update at a later stage.

Edited by Creamer Media Reporter

Comments

Showroom

Alcohol Breathalysers
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer
Magazine round up | 15 November 2024
Magazine round up | 15 November 2024
15th November 2024

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.057 0.136s - 144pq - 2rq
Subscribe Now