Globe Metals Secures Funding for Kanyika Niobium Project

Globe Metals & Mining Limited (AU:GBE) has released an update.

Globe Metals & Mining Limited has secured a significant step forward for its Kanyika Niobium Project by signing a non-binding Term Sheet for a $10 million convertible loan with the Industrial Development Corporation (IDC) of South Africa. This funding will cover essential project activities such as feasibility studies and engineering design, enhancing the project’s credibility and attracting further investments. With this and previous financing, Globe has secured 54% of the necessary funds for the first phase of the project, expected to commence in early 2025.

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