Great Western Minerals Confirms bond of up to C $ 90 million for Steenkampskraal

19.03.2012

Great Western Minerals GroupGreat Western Minerals (CVE:GWG, OTC:GWMGF, FFT:GWM) announced last week announced details of the convertible bonds to finance the project Steenkampskraal rare earths in South Africa.

The company announced, that it intends to raise with the transaction to C $ 90 million.

The agent in charge of GMP Securities, ISM Capital and Byron Capital Markets Ltd. have set the bond at C $ 80 million and have an over-allotment option, may further contribute C $ 10 million.

The funds are a NI 43-101 compliant technical report and the continued renovation of the formerly producing real estate finance.

Moreover, the money for the construction of the rare earths processing plant and a plant for processing provided by monazite.

The term of the bond shall be five years, und der Zinssatz ist 8%. Die Ausgabe soll am 5. April be completed.

Chief Officer Jim Engdahl Executice hat nun started the Trial, to appoint a successor. He had previously declared, he plans to resign, when Great Western has a solid foundation for steady growth and is fully funded, to start the production.

Great Western produces specialty alloys for batteries, Magnet applications as well as for air- aerospace industry from two locations: Less Common Metals (LCM) in Birkenhead, UK, und Great Western Technologies (GWT) in Troy, Michigan.

Except Steenkampskraal, LCM and GWT, the company has four rare earth exploration properties in North America.

Great Western Minerals Group Ltd. is a company based in Canada with six rare earth exploration and development properties in North America with an option for a significant additional property in South Africa. Beyond, pursue as part of the strategy of the company into a vertically-integrated business model, produce the company's wholly owned subsidiaries “Less Common Metals Limited” in Birkenhead, Great Britain, and “Great Western Technologies Inc. in Troy, Michigan, a selection of special alloys for use in the battery, Magnet and aerospace industries. In fact “designer” Alloy include those, the copper, Nickel, Cobalt and the rare earth elements.

Those: proactiveinvestors.de

This entry was posted in Great Western Minerals Group Ltd and tagged , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply