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Kaboko Mining continues to finalise manganese project debt financing with Noble Resources

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Kaboko Mining (ASX: KAB) expects to update on or before March 5 the progress it has made on the finalisation of Tranche A of the Debt Facility and Offtake Agreement with Noble Resources International.

Shares in the company have been placed into suspension until the announcement is made.

The US$3 million funding, which when combined with the advance payment of US$1 million, provides Kaboko with the funds to complete mine development and associated plant and equipment purchases at its Northern Manganeseproject at Mansa, Zambia.

It will also allow the company to start deliveries of high grade manganese ore to Noble with the first delivery slated for the June quarter of 2013.

 

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