28 C
Belgrade
Supported byspot_img
spot_img

Prairie Mining To Receive Further Investment From CD Capital for its Poland coal project

Member of Europium Groupspot_img
Supported byspot_img

Coal development company Prairie Mining Ltd said on Tuesday it has agreed terms for a further investment with its cornerstone investor CD Capital.

CD Capital will invest AUD2.0 million in non-redeemable, non-interest-bearing convertible loan notes from its CD Capital Capital Resources Fund III LP, issued into a private placement by PDZ Holdings Proprietary Ltd, a subsidiary of Prairie which holds its tier one coking coal projects.

The notes can be exchanged into ordinary shares of Prairie at 28 pence per share, meaning that CD Capital will have a 23% stake in Prairie, with an additional exercise of CD Capital’s options that could increase the stake to 30%.

Supported by

The investment will go towards further accelerating Prairie’s Debiensko hard coking coal project, and advance per-construction engineering works at its Jan Karski mine, both in Poland.

“Following on from our recent successful placing to a number of high-quality UK based institutional investors, CD Capital’s increased investment in Prairie reaffirms the global significance of our Tier One coking coal assets in Poland. We are delighted with the continued support from our cornerstone investor who shares Prairie’s vision to become Europe’s next strategic coking coal project.”

Shares in Prairie Mining were down by 2.8% at 32.56 pence on Tuesday.

Source: lse

Supported byElevatePR Digital

Related News

CATL explores $1.5 billion fund to boost global battery supply chain

China's Contemporary Amperex Technology (CATL), the world's largest electric vehicle battery manufacturer, is in discussions with overseas sovereign wealth funds and private offices of...

Securing Europe’s critical raw materials: Addressing funding challenges for sustainable extraction

Bernd Schäfer, CEO of EIT Raw Materials, advocates for substantial investment in Europe's mining sector following the implementation of the Critical Raw Materials Act...

Strengthening global sustainability: The SCMA and critical minerals for climate goals

Canada's Minister of Energy and Natural Resources, Jonathan Wilkinson, together with Sweden's Minister for Energy, Business and Industry, Ebba Busch, announced Sweden's accession to...

Nickel mining and the green energy challenge: Balancing supply with environmental responsibility

Nickel is poised as a critical element in the global shift towards green energy, yet its extraction poses significant environmental challenges, recently highlighted by...
Supported by
Supported by
Supported by
error: Content is protected !!