- Write by:
-
Friday, January 8, 2021 - 5:24:02 PM
-
589 Visit
-
Print
Mining News Pro - Capital Limited says payments on major capital equipment items required for contracts related to waste mining and extended drilling services at London-listed Centamin`s Sukari gold mine, in Egypt, have significantly progressed.
The company in December gathered equity proceeds from a share placing, which helped to facilitate payments on the equipment.
This follows after Capital, in December, secured a "transformational" contract with Centamin.
At the time, Capital reported that the transaction was the largest contract it had secured to date and would increase the company`s revenue by more than 40% over the four-year duration of the contract.
Capital reports that payments have now been significantly progressed for all major long-lead items required for the contracts, including 17 dump trucks, seven blast hole drill rigs, three excavators and all major ancillary support equipment such as dozers, graders and water trucks.
The company also made progress on several of the debt facilities contemplated in the capital raising prospectus, including executing a $2.6-million vendor finance agreement with Epiroc, fully drawing down on the remaining tranches of a $10-million Macquarie facility, and soon using an $8.5-million vendor facility it has with Sandvik.
Capital says discussions are advancing with lenders on additional facilities designed to provide the company with balance sheet flexibility for further growth, with the capital requirements for the Sukari contracts now met.
Preliminary mining activity at Sukari is planned to start later in the first quarter.
Short Link:
https://www.miningnews.ir/En/News/609987
Harmony Gold said on Thursday an employee working on planned rail maintenance had died at its Mponeng mine in South ...
Emerging North American gold producer Contango ORE is boosting its landhold in Alaska with the acquisition of Canada’s ...
Gold fell, with market watchers saying the previous day’s rally in response to Federal Reserve Chair Jerome Powell’s ...
Canadian miner Barrick Gold on Wednesday beat first-quarter profit estimates on higher bullion prices and said it has ...
Barrick Gold faced criticism outside its annual general meeting on Tuesday in Toronto for supporting Malian rulers with ...
Gold wavered as traders looked ahead to a week with a Federal Reserve rate decision meeting and key US jobs data.
China’s Tianqi Lithium said on Thursday it has formally requested that a proposed joint venture between lithium company ...
Newmont Corp beat Wall Street estimates for first-quarter profit on Thursday, as the world’s largest gold miner ...
Zimbabwe’s President Emmerson Mnangagwa has re-appointed Winston Chitando as the southern African nation’s mines ...
No comments have been posted yet ...