| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Danakali, AFC Investment to seek new funding structure for Colluli project
StockMarketWire.com
|
Danakali and AFC Investment said they were in talks to find a funding structure that would ensure the commencement of construction of the Colluli project as conditions required to meet a tranch 2 payment were unlikely to be met before deadline.
Danakali considered it unlikely that conditions required to satisfy the tranche 2 payment of $28.5 million for the project was unlikely to be met prior to the deadline of 21 November 2020, the company said.
'AFC are fully committed to seeing Colluli developed as quickly and safely as possible and look forward to working with the key stakeholders, ENAMCO, Afreximbank and Danakali on this important objective and ensure the project is fully funded as soon as possible so production commences in 2022, AFC said.
At 9:56am: (LON:DNK) Danakali Limited share price was -1p at 21.5p
Story provided by StockMarketWire.com
|
|
|
|
|
|
