Kalahari Minerals raises extra £10m for Extract funding
07 September 2009
Mining group Kalahari Minerals has completed an extra £10 million fundraising through the issue of loan notes. The move follows a share placing in last August that netted the company £20 million.
The loan notes can be converted into ordinary shares of 1p each in Kalahari at any time on or before their second anniversary at an exercise price of 212.5p per ordinary share.
The funds raised by Kalahari in recent weeks have been earmarked to satisfy its commitments to a proposed A$91 million equity raising by Extract Resources Ltd and in order for it to maintain its 40% stake in the company.
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