Armadale Capital Plc announces strategic financing activity

  • Nov 02, 2019 GMT
  • Team Kalkine
  • Armadale Capital Plc (ACP) has released an update on company's recent strategic financing activities.
  • The company in order to complete the Definitive Feasibility Study at the high-grade Mahenge Liandu Graphite Project had announced a placing and subscription for £500,000.
  • The company further announced strategic financing including a CLN (convertible loan note) for £400,000 and renegotiated drawdown facilities for additional working capital of up to £300,000.
  • The said project is a considerable asset with an NPV of USD349 million, an IRR of 122 per cent and a low development capex of USD35 million.

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