13th Apr 2015 07:22
LONDON (Alliance News) - Ormonde Mining PLC Monday said it has made progress on securing project financing for the Barruecopardo Tungsten Project in Spain.
Ormonde entered into an exclusivity period with Oaktree Capital Management LP in February in relation to a project financing package to back Barruecopardo.
Ormonde said "very significant progress" has been made and the two expect to finalise the financing arrangements "shortly". It will make a further announcement on the financing in due course.
Shares in Ormonde were untraded Monday morning, having last traded at 3.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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