Moma Titanium Project
March 15 2002 - 1:30AM
UK Regulatory
RNS Number:0197T
Kenmare Resources PLC
15 March 2002
Kenmare Announces Progress in Funding the Moma Titanium Minerals Project
14th March 2002
Kenmare Resources plc is pleased to announce that it has received Expressions of
Interest to provide loans totalling US$130 million for the development of the
Moma Titanium Minerals Project in Mozambique.
These Expressions have been provided by a group of Development Finance
Institutions, which will shortly begin their due diligence processes and
commence termsheet negotiations. Kenmare is still awaiting responses from a
number of similar institutions, who it would expect to join these processes.
Michael Carvill, Managing Director of Kenmare commented "Given that the Mineral
Licence Agreement was only signed in January, this positive response from the
international lending community represents remarkable progress. Besides being
great news in itself, it will lend credibility to the continuing marketing
negotiations with potential customers. We look forward to advancing the due
diligence process with the institutions."
For more information :
Tony McCluskey
Financial Director
Tel: +353-1-671 0411 or +353-87-6740346
Deirdre Walsh Tim Blackstone
Murray Consultants Blackstone Business Communications
Tel: +353-1-663 3332 Tel: +44 207 251 2527
www.kenmareresources.com
This information is provided by RNS
The company news service from the London Stock Exchange
Kenmare Resources (LSE:KMR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Kenmare Resources (LSE:KMR)
Historical Stock Chart
From Jul 2023 to Jul 2024