PNRL raises P343m for BCL revival

In an announcement to investors yesterday, PNRL said Cymbria Corporation and EdgePoint Investment had agreed to provide equity and term loan funding, with the transaction expected to close around June 28.

PNRL directors said the group intends to use approximately 7.4 million Canadian dollars (P74.7m) of the proceeds from the deal to prepay all principal and interest to another financier, then channel the balance to advancing exploration and resource development at Selebi and Selkirk.