Australia graphite suppliers Magnis by China National Materials 150 million debt
Magnis Resources (ASX: MNS) to get China National Materials (SINOMA) large debt financing to promote Tanzania (Tanzania) Nachu graphite project into production as soon as possible.
ACB News "Macao and China Finance Online" report, Magnis resources March 31 announcement that the company access to China National Materials provided $ 150 million of debt financing to promote Nachu graphite project put into operation in 2016. According to the announcement, the agreement covering 200,000 tons of graphite concentrate processing plant EPC projects.Magnis President Paulas (Frank Poullas), said China National Materials capital injection for Magnis resources, Nachu graphite project is significant. China National Materials strength of its Institute for a number of world-renowned experts in graphite, graphite mining and processing plant design and has a wealth of experience, coupled with Magnis minerals in Africa for many years of management experience, will effectively promote Nachu graphite quickly into production stage.
Paulas said, Magis had worked with CBMI and Steel signed a total of 180,000 tons / year of underwriting contract, Sinoma strong injection also helps ensure the future supply of graphite smoothly. Notice that, according to the results of the pre-feasibility study determined that the project financing debt / equity capital ratio of 90:10. China National Materials after injection of $ 150 million, total assets of $ 165 million, which means Magnis equity value of $ 15 million.
Nachu graphite project financing still need to get the government to further license, current environmental impact assessment (EIA) is progressing well. In recent months, Magnis company Nachu graphite projects and local government officials, community people and other stakeholders in Tanzania has been actively discussing more positive feedback.
ACB News "Macao and China Finance Online" As previously reported, Magnis resources on January 24 this year, and China Railway Bureau Nachu graphite project signed a memorandum of understanding (MOU), the total value of the agreement is expected to reach $ 150 million, will sign a formal agreement in the field study project (See " China Railway 24 Bureau Magnis graphite project intends to expand cooperation ").
Magnis assets Nachu flagship project is located in Tanzania, 40-year mine life is expected, the annual output of up to 200,000 tons, JORC resource of 156 million tons initial 5.2% TGC, the majority of proven and instruction classes, and only 2 percent of the mine based on land area income. Which amounted to 87% of the product can be sold at high prices attributable to the large and giant graphite category, concentrate grade of up to 96-98%.
China National Materials was established in 1983, is the direct management of the State Council, China's central enterprises, with a complete series of core technology and innovation system in China Non-metallic materials industry, scientific research, design, manufacturing, construction, international trade in one international enterprise Group. By the end of 2013, assets of 111.58 billion yuan, its Shanghai, Shenzhen and Hong Kong listed companies amounted to seven.
The stock rose 6.4 percent last week, reported 0.25 yuan.
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