Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
To enable it to access equity funding of about $12-million, Mozambique-focused exploration company Baobab Resources on May 20 delisted its shares from the Aim. In its six-month interim result report for the period ending December 2014, which was released in March 2015, Baobab said that it required additional equity of about $12-million to finance the completion of the bankable feasibility study for its Tete pig iron and ferrovanadium mining projects, repay its existing, and future indebtedness to funding institution Redbird and affiliated entities, and finance its near term working capital requirements.
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