Walkabout Resources receives first tranche of Gemcorp finance
July 13, 2023 at 06:01 pm EDT
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Walkabout Resources Ltd (ASX:WKT) CEO Andrew Cunningham speaks to Thomas Warner from Proactive after announcing the completion of the first US$5.1 million drawdown on its Lindi Jumbo senior debt facility with UK asset manager Gemcorp. Cunningham says that the first portion of the funding has been received, allowing the company to shift focus towards operational readiness and construction completion. He emphasises the importance of assembling the right team and ensuring the smooth transition from construction to commissioning and production. Shareholders can expect updates on the project's progress in the coming months, with the goal of reaching production and generating cash flow by the end of the year or early next year. "Shareholders can keep a close eye on what we'll be announcing over the next couple of months... with all effort going into completing the construction and getting into commissioning, production and first cash flow."
Contact Details
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
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Walkabout Resources Limited is engaged in the exploration and development of resources and energy assets located in Tanzania, Scotland, and Northern Ireland. The Company is undertaking exploration and development activity across a number of graphite, gold, lead, silver, nickel and zinc projects and licenses globally. Its projects include Lindi Jumbo Graphite Project, Amani Gold Project, Kimoingan Graphite Project, Scotland Projects, and Tyrone License. Its Lindi Jumbo Graphite Project is situated in south-eastern Tanzania, over 200 kilometers (km) from the Port of Mtwara and 460km from Dar es Salaam Tanzaniaâs capital. Its Amani Gold Project holds the rights to four prospecting licenses, PL11597/2021, PL11469/2020, PL16627/2020 and PL16629/2020, covering an area of 659.79 square kilometers (km2) in the Ludewa district northwest of Songea in southern Tanzania. Its Kimoingan Graphite Project (PL11119/2017) is located in the Merelani ward of the Manyara Region in north-eastern Tanzania.
WALKABOUT RESOURCES LIMITED 
