Graphite mineral developer Walkabout Resources has declared the conclusion of the interim funding measures that were executed throughout the initial six months of the year. The company has reached an agreement with its engineering, procurement and construction (EPC) contractor Jinpeng, stipulating that all contractual milestones accomplished up to the present moment and those to be achieved until practical completion will be compensated in monetary terms.
Graphite mineral developer Walkabout Resources has declared the conclusion of the interim funding measures that were executed throughout the initial six months of the year.
The most recent disbursement has been sourced from the funds accessed through the senior debt facility established in collaboration with Gemcorp. An additional payment connected to contractual milestones is anticipated to be disbursed from a secondary tranche scheduled for release within the present month.
Moreover, Walkabout has also released about 4.2-million shares at a unit price of $0.11 each, constituting part of the resolution of the remaining shareholder bridging loans. Additionally, a senior debt standby facility, totalling $5-million, has been put in place. As of now, no use of these reserved funds has occurred.
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