The statistics are overwhelming. China not only possesses massive resources of many critical minerals, it also dominates the processing of virtually all of them.
Almonty Industries Inc. Announces That It Now Has Cash in Hand and Binding Commitments From Existing Shareholders and Insiders of US$9,590,000. The Company Also Announces the Prospectus for Admission to the ASX Is Nearing Completion.
Almonty or the
Company ) (TSX: AII OTCQX: ALMTF Frankfurt: ALI.F) is pleased to announce that it has closed two previously anticipated private placements and secured binding commitments from existing shareholders and insiders on a convertible debenture. The private placements were agreed prior to the recent appreciation of the share price with existing European shareholders and the Company felt that it was appropriate to honor the price agreed from that time. The pricing was for 2,000,000 shares at $0.85 per share and 308,333 shares at $0.90 per share for a grand total of US$1,579,358. The Company has also procured an additional US$8,010,642m of executed binding commitments from existing shareholders and insiders, linked to an unsecured 5% p.a. conv
Almonty Industries Inc.: Lewis Black and the Plansee Group Conclude Share Sale/Purchase Prior to KfW IPEX Bank Financial Close for the Construction of the Sangdong Tungsten Mine
Almonty or the
Company ) (TSX: AII OTCQX: ALMTF Frankfurt: ALI.F) announces that the Plansee Group has concluded the agreement to purchase 10,587,056 shares at $1.06 from Lewis Black as part of the previously contemplated transaction announced in December 2020. This transaction provided Almonty with both a US$20m cost overrun guarantee dedicated to the construction of the Sangdong project and a further non-dilutive US$10m guarantee to cover the DRSA (reserve account) required by KfW IPEX Bank as a condition of the loan to replace the more normal cash equity that would have had to be provided otherwise and represented one third of the total equity required.