News

Strandline Resources will raise $122 million to complete the funding puzzle for its Coburn mineral sands project near Shark Bay (reports The West Australian).

Strandline Resources will raise $122 million to complete the funding puzzle for its Coburn mineral sands project near Shark Bay (reports The West Australian). The company this morning flagged a $39m placement along with an $83m, one-for-1.3 rights issue priced at 20.5¢, representing a 9 per cent discount to its last traded price of 22.5¢. The new cash will combine with a $150m loan facility from the Northern Australia Infrastructure Facility and $80m from a senior secured bond issue to complete the funding for the $260m Coburn project.

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After nearly a decade in the doldrums, uranium may at last be finding its feet (reports MiningNews).

After nearly a decade in the doldrums, uranium may at last be finding its feet (reports MiningNews). COVID-19-related supply disruptions helped trigger a record supply deficit in 2020, sending uranium mining equities skywards, but further bullish signs abound. Uranium miners UEC and Denison both announced on March 16 they were venturing into the market to buy spot material, the former for 400,000lb and the latter for 2.5Mlb.

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1st April 2021

Strandline Resources is poised to make a final investment decision on its Coburn mineral sands project near Shark Bay after completing the funding puzzle for the development with a $122 million raising (reports The West Australian).

Strandline Resources is poised to make a final investment decision on its Coburn mineral sands project near Shark Bay after completing the funding puzzle for the development with a $122 million raising (reports The West Australian). The project is expected to create 300 jobs during construction, 150 jobs in operation from the second half of next year and bring $922m in benefits to a region not known for mining investment.

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Initial ground exploration in the Julimar State Forest, immediately north of Chalice Mining’s Gonneville PGE-nickel-copper discovery, has defined new electromagnetic conductors (reports MiningNews).

Initial ground exploration in the Julimar State Forest, immediately north of Chalice Mining’s Gonneville PGE-nickel-copper discovery, has defined new electromagnetic conductors (reports MiningNews). The 6.5km-long Hartog electromagnetic anomaly was discovered in September last year using airborne EM, but approval from the Western Australian government to explore in the forest was only received in January.

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Strandline Resources’ (ASX: STA) successful debt raising for its Coburn mineral sands project in WA has triggered a wave of fresh buy recommendations from leading analysts (reports Stockhead).

Strandline Resources’ (ASX: STA) successful debt raising for its Coburn mineral sands project in WA has triggered a wave of fresh buy recommendations from leading analysts (reports Stockhead). Senior analysts at brokers including Fosters and Shaws have put price targets well above 50c on the stock (currently ~27c) following news that the company has secured all the required debt for the development of Coburn.

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Calidus Resources is just about to launch into full construction of the A$116 million Warrawoona gold project in the Pilbara region of Western Australia (reports MiningNews).

Calidus Resources is just about to launch into full construction of the A$116 million Warrawoona gold project in the Pilbara region of Western Australia (reports MiningNews). Early works at the site, including the accommodation village, water bores, communications and access roads, are almost complete, allowing full-scale construction to kick off in April. "The site's starting to look really good at the moment," Calidus managing director Dave Reeves told the Australian Energy & Minerals Investor Conference yesterday.

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Strict environmental controls designed to curb steel production in China are unlikely to signal the end of the boom in iron ore prices, and miners producing higher grades of iron ore are likely to see a benefit from the restrictions (reports The AFR)

Strict environmental controls designed to curb steel production in China are unlikely to signal the end of the boom in iron ore prices, and miners producing higher grades of iron ore are likely to see a benefit from the restrictions (reports The Australian Financial Review). The price of spot iron ore fell 2.7 per cent to a six-week low of $US157.01 a tonne on Monday, according to Fastmarkets MB, with investors cautious over the outlook.

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Strandline Resources says it is on the cusp of a final investment decision for its flagship Coburn mineral sands project near Shark Bay after securing $US60 million ($80m) in project debt (reports The West Australian).

Strandline Resources says it is on the cusp of a final investment decision for its flagship Coburn mineral sands project near Shark Bay after securing $US60 million ($80m) in project debt (reports The West Australian). The debt funding through European investment bank will stand alongside a $150m loan from the Federal Government’s Northern Australia Infrastructure Facility. It leaves only a roughly $30m equity raising component to complete the $260m funding puzzle for the project.

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