Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
ASX-, JSE- and Aim-listed Ferrum Crescent has signed a memorandum of understanding with South Africa’s Principal Monarch Investment for $12-million in funding to complete the bankable feasibility study on its Moonlight iron project, in South Africa’s Limpopo. In return for the $12-million in funding, which would be payable in three tranches, Principal would receive a 39% stake in the proposed Moonlight project.
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