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Walkabout Resources progressing final funding solution for Lindi

Due diligence activities related to project funding are nearing completion.

Walkabout Resources Ltd - Walkabout Resources progressing final funding solution for Lindi
The completion of due diligence will allow for the launch of a loan note offering

Walkabout Resources Ltd (ASX:WKT) continues to make progress developing its flagship high-grade Lindi Jumbo Graphite Project in southeast Tanzania.

Funding options continue to be progressed with an international investment bank for non-bank debt financing alternatives for the development funding for Lindi.

Notably, the unnamed bank has experience funding greenfield mining projects and structuring emerging market transactions especially when considering the regulatory and logistical aspects of lending to a project in Tanzania.

Activities underway are working towards executing a loan note agreement, which is expected to take a number of weeks.

China graphite market feedback tells different story

Walkabout, through its offtake partners and marketing agents in China, has conducted some market research on the general graphite market in China.

Interestingly, Walkabout concluded from its enquiries that the speculated sudden and material decrease in spot prices for all flake sizes in China has not occurred as stated.

The table below represents Chinese Renminbi prices for various sizes of flake graphite concentrate at 95% TGC as published daily for the Chinese domestic market by ICCSINO.

ICCSINO is a market intelligence periodical based in Shanghai, China and owned by Shanghai Xinluo Network Technology Co. Ltd.

Quick facts: Walkabout Resources Ltd

Price: 0.14 AUD

Market: ASX
Market Cap: $48.88 m

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Walkabout Resources' updated DFS designed to reduce start up risks for Lindi...

Walkabout Resources Ltd (ASX:WKT) executive director Allan Mulligan talks Proactive Investors through the enhanced outcomes of an updated Definitive Feasibility Study (DFS) for the Lindi Jumo Graphite Project in Tanzania. Mulligan explains that capital costs have been reduced, and that...

on 12/3/19

2 min read