Walkabout closer to debt funding for Lindi Jumbo
PERTH (miningweekly.com) – Graphite developer Walkabout Resources has cleared another hurdle in a $20-million debt facility for its Lindi Jumbo project, in Tanzania, with Gemcorp Investment Committee approving the transaction facility along with a $5-million standby facility.
The debt and standby facilities are both subject to formal loan documentation, which is being prepared.
“We are excited that the senior debt facility is nearing completion. The advanced development stage and high product margins expected from Lindi Jumbo, allow us to access high-yield debt that other projects cannot. Such a facility, also allows us to deliver on shareholders' expectations of full project funding while minimising potential dilution,” said Walkabout CEO Andrew Cunningham.
The senior debt facility will have a three-year period and will be repaid from operating cash flow, starting in June 2024. The initial drawdown of the senior debt facility will be used to refinance existing interim funding measures, with the remainder of the facility to be used to complete construction costs, fund commissioning and provide working capital for the Lindi Jumbo project.
The Lindi Jumbo project will produce 40 000 t/y of graphite over a mine life of 24 years.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation