https://www.engineeringnews.co.za

Nkwe secures A$4.5m facility, recapitalisation talks continuing

18th January 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) - South Africa-focused platinum developer Nkwe Platinum on Friday said it was still in discussions with the African Mineral Exploration and Development Fund (AMED) and its black economic-empowerment partner Genorah Resources, regarding its recapitalisation.

The miner went into a trading halt at the start of this year, after a term sheet entered into between Nkwe, Genorah and Gleneagles Securities lapsed. Genorah, in turn, paid back the outstanding loan, which amounted to some A$2.8-million, through a refinancing deal with AMED.

Although the details of the Nkwe recapitalisation were still being finalised, the miner said on Friday that the transaction would see AMED become a significant shareholder in Genorah, and through that position, would enable Genorah to recapitalise Nkwe.

While the transaction was still being finalised, a working capital facility of A$4.5-million had been approved, and secured against Genorah’s shareholding in Nkwe.

Nkwe said the facility would provide the company with working capital funding while AMED, Genorah and Nkwe finalised the larger strategic partnership transaction.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Latest News

SKAO director-general Prof Jessica Dempsey
The SKA Observatory has a new head
2nd June 2026 By: Rebecca Campbell

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
Iritron
Iritron

Iritron delivers advanced automation, control, and optimisation solutions to the Mining, Minerals & Metals, Consumer Package Goods and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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







301

sq:0.066 0.906s - 140pq - 2rq
Subscribe Now