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Funding commitments firm up Aspire Mining’s near-production Ovoot project

Aspire Mining Ltd (ASX:AKM) managing director David Paull speaks to Proactive Investors about the development company’s recent work and financing arrangements at its Ovoot Coking Coal Project in Mongolia.

Aspire is targeting early production of washed coal from Ovoot within 12 to 15 months of approval, and has formulated the Ovoot Early Development Plan (OEDP) including related funding commitments.

In support of the OEDP, the company has executed definitive and binding documentation with substantial shareholder Tserenpuntsag Tserendamba to invest $10 million as part of a $15 million strategic financing package.

Quick facts: Aspire Mining Ltd

Price: 0.012 AUD

ASX:AKM
Market: ASX
Market Cap: $39.92 m
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Aspire Mining PFS shows 'fantastic financial outcome' with further optionality

Aspire Mining Ltd (ASX:AKM) managing director David Paull talks Proactive Investors through the outcomes of a Pre Feasibility Study on the Ovoot Early Development Project. The company is seeking the near-term production of coking coal from the Mongolian asset, to feed Chinese...

on 1/3/19

2 min read