I see their proposed project financing for the Congo Mengo Potash project has failed to pass due diligence, meaning that up to $156M will have to be found elsewhere. The proposed investor TSC Capital would have ended up with 55% of the company.
Their share price went down 47.5%! MC now $91M.
ELM will not be hurt by this, as it is shaping up as a big scale high-grade project as we know.
magindustries mengo financing falls through
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