Graphite developer Walkabout Resources has cleared another hurdle in a $20-million debt facility for its Lindi Jumbo project, in Tanzania, with Gemcorp Investment Committee approving the transaction facility along with a $5-million standby facility.
The debt and standby facilities are both subject to formal loan documentation, which is being prepared.
Walkabout Resources Ltd (ASX:WKT) has taken another step towards the start of graphite production at the under-development high-grade Lindi Jumbo Project in.
The ASX appears to have turned its dismal performance in recent days around, gaining a modest 0.30% or 21.30 points today to net a 0.59% increase over the.
Graphite developer Walkabout Resources on Friday reported that a new three-year mine plan at its Lindi Jumbo mine, in Tanzania, had resulted in an expected 42.2% reduction in waste rock mining and a 23.5% reduction in total mined tonnes.
The company told shareholders that the significant reduction in waste rock and total tonnes mined had the potential to reduce operating costs at Lindi Jumbo, even at the current increased unit costs that resulted from higher inflation, increased fuel prices and ancillary mining costs.
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