Giyani secures $1m loan facility for Botswana projects


Canadian junior exploration company Giyani Metals has signed a term sheet with Traxys Africa Trading for the provision of a $1-million convertible loan facility.

TSX-V- and Frankfurt Stock Exchange-listed Giyani will use the funds to finance the development and operation of its K.Hill and Otse reclamation projects in Botswana, as well as to implement environmental management plans (EMPs) at the projects.

Under the terms of the transaction, Traxys will have the exclusive right to market all of the direct shipping ore (DSO) manganese material processed and produced at the projects.

Net proceeds from the sale of the DSO by Traxys will be used to reduce the principal amount outstanding under the convertible facility.


9 months ago

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