Goulamina JV gets cash injection
PERTH (miningweekly.com) – ASX-listed Firefinch on Friday reported that the Goulamina lithium project joint venture (JV) has received $130-million in funding from JV partner Jiangxi Ganfeng Lithium.
Firefinch earlier this week announced the transfer of the Goulamina exploitation licence into the JV company, which triggered a $170-million funding package from Jiangxi, which includes $130-million of equity funding.
The $130-million of equity funding provided to the JV company by Ganfeng comprises $39-million that was released from escrow and a further $91-million second tranche investment.
Ganfeng is further obliged to provide either $40-million of direct debt or source $64-million of third-party debt.
Firefinch on Friday said that the company was now proceeding with the demerger of Goulamina into Leo Lithium.
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