Funding from Yankuang Energy, Beijing Energy and Singapore Trading
Highfield Resources has secured enough funding to fully bring the first phase of its Muga potash project in northern Spain to fruition, with a $220million investment from Yankuang Energy and investors.The package brings the development-stage project together with Yankuang, a Hong Kong and Shanghai listed energy producer and a number of strategic investors including Beijing Energy and Singapore Taizhong , a trading house.
This will be via an institutional placement to raise up to $12million and and extra $5 million from an entity managed by EMR Capital.This amount is conditional on shareholder approval at an extraordinary general meeting and a follow-on offer of new shares under a share purchase plan.Muga is a hard rock underground project. It is fully permitted and construction-ready.
Yankuang Energy Singapore Taizhong Beijing Energy Olivier Vadillo
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