My client is a leading large metal company listed company in Australia .is seeking to issue up to 200m new shares or 25% equity stake to raise up to A$40m to begin mining for Neodymium and Praseodymium (Nd-Pr) in Western Australia in 2019/20.
This equity fund-raising is part of the agreement with German state-owned bank KfW to project finance this mine with up to A$250m of debt and the rest, in equity. In addition, Thyssen Krupp and 3 Chinese companies including a large corporate in Baotou has offtaken 73% of projected Nd-Pr concentrate of 15,000mt per annum (this will increase as more proven reserves are discovered). For the time being, thye are mining only 7.7% of 650sq.. Any interesting party please let me know.
Rare earth only allowed by Australian government for private investors