Company Announcement: Gindalbie Metals - Completes $22M Ansteel Placement
Gindalbie Metals Limited is pleased to announce that it has completed the previously announced $22 million share placement to its major shareholder and joint venture partner, Ansteel. The share placement, comprising 87,804,101 shares at an issue price of A$0.255 per share, was approved by shareholders at a General Meeting held on 8 February 2013. The funds have been received and the shares have been allotted to Angang Group Hong Kong (Holdings) Limited. The completion of the share placement has resulted in Ansteel maintaining its 36 per cent shareholding in Gindalbie.
The $22 million share placement to Ansteel formed part of the A$62 million equity raising announced in November to strengthen the Company’s balance sheet and fund contributions to Karara Mining Limited (KML) for use as working capital during the commissioning phase. The commissioning and ramp-up of the Karara Project is proceeding well with no material issues encountered. As previously advised the company will announce milestone achievements as they occur, with a further update on progress expected to be made in the near future. Gindalbie’s Managing Director, Mr Tim Netscher, said he was grateful for Ansteel’s continued strong support of Gindalbie and the Karara Project.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
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















