Strandline Resources has signed a US$26 million project finance facility agreement with Nedbank CIB for its Fungoni heavy mineral sands project in Tanzania.
Strandline Resources has received firm commitments for US$5.5 million to fund ongoing exploration and development of its project pipeline in Tanzania.
Strandline Resources takes another significant step towards becoming a minerals sands producer.
Strandline received $3.0 million via a share placement to investors. Proceeds will be used to finalise funding for the Fungoni project in Tanzania.
Strandline Resources has signed a binding sales contract for 100% of the ilmenite to be produced at the Fungoni minerals sands project in Tanzania.