https://www.engineeringnews.co.za
Construction|Flow|PROJECT|Projects|Resources|Flow
Construction|Flow|PROJECT|Projects|Resources|Flow
construction|flow-company|project|projects|resources|flow-industry-term

Walkabout closer to debt funding for Lindi Jumbo

14th June 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

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.

Edited by Creamer Media Reporter

Comments

Showroom

Avlock International
Avlock International

Avlock International is a leading manufacturer and distributor of Specialized Fastening Systems.

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

On-The-Air (17/05/2024)
On-The-Air (17/05/2024)
17th May 2024 By: Martin Creamer
Magazine round up | 10 May 2024
Magazine round up | 17 May 2024
17th May 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:0.282 0.334s - 160pq - 2rq
Subscribe Now