29th May 2019 12:39
LONDON (Alliance News) - MOD Resources Ltd on Wednesday said it received "encouraging proposals" from several parties for the provision of debt funding for the T3 copper project in Botswana.
The company added that it will now evaluate the proposals with the intention of targeting finalisation of debt agreements by the end of the third quarter of 2019.
Furthermore, MOD asaid it has continued to advance non-debt funding options while progressing discussions with a range of other interested strategic parties.
In his annual general meeting statement, Chair Mark Clements said: "So all in all, the board and management are very pleased with the year that has been. There have been a number of factors that sit outside of our control which have not helped the share price, but when you look at the factors that we do have control over, we have done well, and I am very encouraged with our achievements to date and what we are poised to deliver."
"MOD is in a very unique and enviable position - we have a great development project with outstanding economics, but we have also identified a strong pipeline of exploration and growth projects to allow the company to continue to evolve," he concluded.
MOD Resources shares were flat at 16.50 pence each on Wednesday afternoon.
Related Shares:
MOD.L