PROJECT FINANCE

Nedbank confirms Strandline backing

NEDBANK has signed on to underwrite the US$26 million debt funding requirement for Strandline Resources’ Fungoni mineral sands project in Tanzania following an extensive six-month due diligence process.

Fungoni is poised to begin construction.

Fungoni is poised to begin construction.

The terms sheet for the five-year credit facility will meet a considerable amount of the project's capital requirements now estimated at $35 million, with Strandline describing the terms as "favourable"....

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