Ord Signs Funding Agreement with Chinese Firm

31 August 2009 (Last Updated August 31st, 2009 18:30)

Australia’s Ord River Resources has signed a A$10m subscription agreement with China Non-Ferrous Metals International Mining (CNMIM). Under the deal, named the Equity Line Facility, CNMIM will subscribe shares worth A$10m over the next three years on mutual agreement when required by

Australia’s Ord River Resources has signed a A$10m subscription agreement with China Non-Ferrous Metals International Mining (CNMIM).

Under the deal, named the Equity Line Facility, CNMIM will subscribe shares worth A$10m over the next three years on mutual agreement when required by Ord.

The deal is a part of the company's overall capital management strategy to strengthen Ord financially and the proceeds will be used to fund projects, acquisitions and general working capital, Ord said.