Tuesday, April 30, 2024
Tanzania player Aminex has agreed a funding facility with its largest shareholder, Eclipse Investments. The main terms of the facility are:
Charles Santos, Executive Chairman of Aminex commented: “We are very grateful to Eclipse for their continuing support and for agreeing to put this funding facility in place, should the Company need it. As announced in 2022, the Company has sufficient funds until the end of 2024, when revenues from the Ntorya gas discovery had originally been expected. However, final preparations are ongoing to enable work on the Ntorya development to start and this leads us to now estimate first revenues in mid-2025. We therefore believe it is prudent to arrange this funding now.”