https://newsletter.en.creamermedia.com
Africa|Construction|Engineering|Export|Hatch|Mining|PROJECT
Africa|Construction|Engineering|Export|Hatch|Mining|PROJECT
africa|construction|engineering|export|hatch|mining|project

Kropz inks equity facility with ARC Fund to capitalise ongoing Hinda work

26th February 2021

By: Donna Slater

Features Deputy Editor and Chief Photographer

     

Font size: - +

Aim-listed emerging African phosphate explorer and developer Kropz has entered into a $5-million conditional convertible equity facility with major shareholder ARC Fund to finance the ongoing work at Kropz’s Hinda phosphate project in Congo-Brazzaville.

The new facility is in addition to the $40-million facility which ARC and Kropz entered into in May 2020.

The equity facility will be drawn down on a quarterly basis at the discretion of Kropz, with the first quarterly amount to be drawn down on March 10.

The facility is convertible following a draw down into newly issued ordinary shares of 0.1p apiece in the capital of Kropz at a fixed price of 4.202p apiece and a fixed exchange rate of $1 to £0.73 at each quarterly draw-down.

HINDA

Earlier in February, Kropz appointed engineering and construction firm Hatch Africa to complete an updated feasibility study on Hinda, which will target a phased approach in line with the terms of the mining investment agreement, with initial production of one-million tonnes a year of phosphate rock being exported from the existing port facility at Pointe-Noire, which is 50 km from Hinda.

A second phase production ramp-up will also be evaluated with export from a new port site, located north of Pointe-Noire.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

 

Showroom

Avlock International
Avlock International

Avlock International is a leading manufacturer and distributor of Specialized Fastening Systems.

VISIT SHOWROOM 
RioCarb
Rio-Carb

Introducing the Rio-Carb Smart Chute Concept - a revolutionary advancement in materials handling, designed for the toughest industries like mining...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 14 March 2025
Magazine round up | 14 March 2025
14th March 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.157 0.25s - 168pq - 2rq
Subscribe Now