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Innovative financing structures needed to fund Africa growth
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Innovative Financing Structures needed to Fund Africa Growth
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Operational & Corporate Update
Mali from Garalo and Ntiela
· 8,000m of additional RC drilling in
Mali
Contango Holdings Plc, the
London listed natural resource development company, is pleased to provide a summary of recent work undertaken at the Garalo-Ntiela Gold Project Area ( the Project ) in
Southern Mali. The work programme was designed to assist in the Company s previously reported focus of fast tracking the Project into production by the end of 2021, as well as further increasing the understanding of the wider prospectivity of the licences.
Given the focus on early production and cash generation, most of the exploration activities have centred on the Garalo permit, which has demonstrated potential for a 2Moz Resource. However, work on the more recently acquired Ntiela concession, has also continued to yield encouraging results with the intersection of two major structures already. A summary of operations is presented below:
Rand Merchant Bank (RMB) has disclosed that it acted as Joint Lead Manager and Joint Bookrunner (JLM), alongside other transaction parties, in Ghana’s four-tranche Eurobond.
According to a statement, RMB also acted as Dealer Manager on Ghana’s Tender Offer on its 2023 maturity Eurobonds.
“RMB is proud to have assisted Ghana to issue a new money Zero Coupon Senior Unsecured Eurobond, the first of its kind by an Emerging Market (EM) sovereign,” it added.
Ghana’s Minister for Finance, Ken Ofori-Atta,
who was sworn in on March, 30, 2021, had in the past made a case for the creation of an, “inclusive global forum to rebuild the international financial and economic architecture and a new ability to respond equitably and rapidly to such a catastrophe.”