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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.

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Price: 0.089 AUD

ASX:AKM
Market: ASX
Market Cap: $45.18 m
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Full interview: Aspire Mining receives additional undertakings from major...

Aspire Mining Ltd (ASX:AKM) managing director and chairman David Paull updates Proactive on receiving additional commitments from major shareholder Mr Tserenpuntsag in relation to his proposed $33.5 million equity investment in company. Mr Tserenpuntsag will exercise all his 153.3 million...

on 14/11/19

2 min read