Ann: Agrees terms of US$30m debt & equity funding with RCF, page-5

First 5 Last

Share
Profile

Follow
stu1964

855 Posts.

19

03/05/18

09:58

Post #: 32849893
Share

Originally posted by qqqqqqqqq ↑

• Term sheet signed for US$25m term loan and US$5m equity • US$25m term loan is for 3 years at an interest rate of 10%pa • RCF to subscribe for US$5m (~AUD$6.7m) in proposed placement • Proceeds will be used for construction of the Montepuez graphite project Battery Minerals Limited (ASX: BAT) is pleased to advise that it has taken another significant step to ensuring its Montepuez graphite project is fully-funded through a US$30m debt and equity package agreed with Resource Capital Funds (RCF).

The debt and equity package is subject (amongst other conditions) to Battery Minerals raising a further minimum ~AUD$28.3m via issue of new equity. Battery Minerals Managing Director David Flanagan said the debt and equity package marked a significant milestone for the Company as it starts the countdown to production and cashflow.

“We are particularly pleased that an investor of the calibre and experience of RCF wished to invest in us and they had confidence in the team, as we strive to be producing graphite concentrate and generating substantial cashflow in less than a year,” Mr. Flanagan said. RCF Term Loan and Equity Subscription Pursuant to the term sheet, subject to the satisfaction of certain conditions precedent:

• Battery Minerals will borrow US$25mil from Resource Capital Fund VII L.P., at an interest rate of 10% per annum. Battery Minerals will pay an Establishment Fee of 2% and, subject to shareholder approval, grant approximately 333mil, five year options exercisable at 10 cents each; and • Resource Capital Fund VII L.P. will subscribe for US$5m worth of Battery Minerals fully paid ordinary shares (Shares) at a price per share equal to the lowest price at which Shares are issued between execution of the RCF term sheet and completion of the RCF equity subscription (being the lowest price at which shares are issued as allowed under the moratorium referred to in Appendix 1), and on equivalent and no less favourable terms and conditions as offered to investors under such issue.

Expand

u just beat me to it

BAT Price at posting: 6.3¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

Chaos reigns markets – so let's take stock of where we're at ahead of December

OCN

Southern Cross Gold zooms in on 9 new high-grade zones above 20g/t at Golden Dyke

SHN

Chimeric clocks $4.17M R&D tax rebate from Canberra

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

PME

Pro Medicus signs landmark $330M deal to roll out imaging platform in US hospitals

Watchdog takes Webjet to court over alleged 'false' flight prices with hidden fees

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

MTM

Australian Rare Earths bullish on early-stage uranium potential at Overland, SA

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

There are more pages in this discussion • 74 more messages in this thread...

First 5 Last

Add BAT (ASX) to my watchlist

Ann: Agrees terms of US$30m debt & equity funding with RCF, page-5

Top Stories

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

Chaos reigns markets – so let's take stock of where we're at ahead of December

Southern Cross Gold zooms in on 9 new high-grade zones above 20g/t at Golden Dyke

Chimeric clocks $4.17M R&D tax rebate from Canberra

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

Pro Medicus signs landmark $330M deal to roll out imaging platform in US hospitals

Watchdog takes Webjet to court over alleged 'false' flight prices with hidden fees

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

Australian Rare Earths bullish on early-stage uranium potential at Overland, SA

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects