Platinum Australia said it has secured a A$15m bridge facility with Macquarie Bank to end previous financing arrangements used for the development of its Smokey Hills project in South Africa.
The facility is repayable in full by 31 August 2011 and the company will issue Macquarie 1.4 million options over its shares exercisable at A$1.05 a piece.
Go deeper with GlobalData
The deal allows Platinum to end its previous finance and hedging facilities provided by
Standard Bank for the development of the Smokey Hills project.
The Smokey Hills project is located the Bushveld Complex, 300km north of Johannesburg.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
