Continental Coal Limited, the South African coal production company says it has closed the previously announced A$5 million of limited recourse bridge funding, with the larger recapitalisation plans well advanced. The funds have been received by the Company’s escrow agent and all conditions met, allowing for the funds to be released so as to meet key payments to current creditors and ensure a 3 month standstill period to recapitalize the Company and restructure its financial arrangements. Importantly the Company will focus on, and ensure, stability at an operational level with the Company’s current mining operations whilst saving significant costs at…
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Discovery Metals Limited has provided a further update in regards to its Boseto Project Finance Facility (PF Facility) and its Single Currency Revolving Facility Agreement (SCRFA). The principal amounts outstanding under both facilities are US$123.8m and US$25m respectively. Discovery Metals has previously announced to the market various changes to the repayment schedule for the PF Facility (Repayment Schedule) in the form of formal waivers from its lenders. A principal repayment of US$17.5 million was due and payable on 31 December 2013. As announced on 31 December 2013, this principal repayment and all interest owing up until 31 December 2013 under…
Tlou Energy Limited has provided an update on operations at the Lesedi CBM project in Botswana. The Lesedi CBM Project area includes the Lesedi Pod (which commenced dewatering on 5 December 2013) and the Selemo Pod (which commenced dewatering on 17 November 2013). According to the company, the dewatering process on the Lesedi and Selemo gas production pilot wells is continuing with greater than expected water flows requiring the pump lift capacity on the wells to be increased. Usually good water flows are a positive sign and this is the current interpretation for the Lesedi CBM project. Tlou estimates based…
With rhino poaching at an all-time high in South Africa, two of Africa’s leading conservation companies, Great Plains Conservation and &Beyond, have joined forces to safely translocate up to 100 rhino from South Africa to the safe haven of Botswana. “There is a battle for Africa’s wildlife raging as we speak. Rhinos are being poached at a rate of one every nine hours and the official number is 1 004 dead in 2013 alone. The unofficial number, because we simply do not find them all, is well over 1 000. Like everyone, I’ve been watching this desperate situation worsen, which is why Great Plains…
Synonymous with flutes of champagne and exquisite couture fashion, guests of the fourth annual Veuve Clicquot Masters Polo 2014 are set to attend what has now become South Africa’s most exclusive and luxury polo event on the Western Cape’s social calendar on Saturday, 01 March 2014. Drawing inspiration from polo’s global presence, with its rich cultural heritage, the prestigious Champagne House sponsors some of the world’s leading polo events such as the Manhattan Classic in New York City, the LA Polo Classic, the UK’s Gold Cup and the Veuve Clicquot Masters Cape Town, the only event of its kind on…
Samsung Electronics have launched the new Food Showcase refrigerator at Samsung Forum 2014 held in Malaga, Spain. Its innovative design provides smart separation in the refrigerator area with two layers of doors: the ShowCase for instant access of frequently used items and the InnerCase for ingredients that require longer storage. The ShowCase section is four times larger than a conventional home-bar refrigerator, allowing consumers to store and instantly access food items such as snacks and drinks. The InnerCase holds larger and fresh ingredients for a longer period of time. “Consumers want quick access to stored items without spending too much…
A-Cap Resources has announced positive results from an independent study conducted by Sedgman, South Africa. A-Cap commissioned Sedgman to assess the potential for development of the Mea Coal Project covering geological, engineering and marketing. A-Cap announced in 2012 the discovery of a major new coal field at the Mea project in Northern Botswana. Coal was found in multiple seams, ranging from high quality domestic thermal coal, export quality coal and possibly material suitable for metallurgical applications. The Mea coal deposit is located approximately 120km west of Francistown on PL134/2005. The project is situated 5km north of the A30 highway that…
Hodges Resources Ltd has undertaken a review of its corporate strategy ahead of what is forecast to be a busy and challenging year ahead. Despite the short term difficulties facing the junior exploration sector, the Board remain of the view that their assets, including the Morupule South Project and Moiyabana, have significant value that is capable of being realised in the short to medium term. However, with the current weak financial and commodity market the company believes that the true value of the assets is not being recognised even though the fundamentals of the Morupule South Project, in particular, remain…
African Copper Plc, the AIM and Botswana listed copper production and exploration company, has released its production and exploration update for the third quarter of its financial year to 31 March 2014 (Fiscal 2014). According to the company, for the third quarter of Fiscal 2014, it produced 2,499 metric tonnes (“Mt”) of copper in concentrate, a marginal decrease on the same period last year but a substantial increase on Q2 this year. It revealed that following a planned 10 day shutdown in November, ore processed and copper production increased significantly in December and stated that geotechnical test work initiated to…
Black Edition devices bring more premium style choices to the bestselling Galaxy S4 series Samsung Electronics Co., Ltd. today introduced new Black Edition versions of the successful Galaxy S4 and S4 mini. These new editions are the latest in Samsung’s effort to build on its commitment to deliver innovative technologies with more premium design choices to consumers. Both the Galaxy S4 and S4 mini Black Editions sport a high-quality leather-like textured black back cover and bezel. This distinct and refined design provides consumers with a stylish Galaxy experience. In addition, Black Edition devices also come preloaded with a suite of…