- 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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