Namib Minerals Signs Nonbinding $30 Million Term Sheet for Redwing Mine
Photo: TokenPost
Namib subsidiary Bulawayo Mining Company (Private) Limited signed a nonbinding proposal with Ecobank Zimbabwe Limited for a potential 36-month, $30 million facility. The named borrower would use the financing for resource-definition and bankability work at Redwing Mine in Zimbabwe. The proposed facility would run for 36 months, and Namib described it as non-dilutive. The borrower is Bulawayo Mining Company (Private) Limited, a Namib subsidiary. The proposal remains subject to customary conditions and definitive documentation. Namib disclosed no interest rate, collateral or repayment schedule.
Source: TokenPost
