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AUSTRALIAN MAGNESIUM CORP TO REVISE MINE FUNDING PACKAGE.
BRISBANE, Sept 3 Asia Pulse - An announcement has been delayed by the Australian Magnesium Corporation Ltd (ASX: ANM) on a revised funding package for its $A1.7 billion ($US894.03 million) Stanwell magnesium project in central Queensland.
Following initial hopes, a revised package would be unveiled by the end of August a company spokesman confirmed that finalisation of a new package may take a few more weeks.
"The company continues to make significant progress but an announcement will take a few more weeks," the spokesman said,.
In late July AMC chairman Roland Williams said the company would come back with a revised package as early as possible, hopefully by the end of August.
The company was forced to revise the structure of a $680 million equity raising after failing to gain sufficient support from overseas investors.
It is believed the company fell just over $100 million short of its objective.
Combined with a $930 million debt package, the funds would have financed development of the 90,000 tonne Stanwell magnesium plant.
- AUSTRALIAN MAGNESIUM CORP OFFERS SHAREHOLDER BONUSES.
- News wire article from: AsiaPulse News September 10, 2001 700+ words
...Sept 10 Asia Pulse - Australian Magnesium Corp (AMC) has unveiled...important objective of the new funding package would be to reward and...structure and timing of the funding package, your management is now...following completion of the funding package for Stanwell, ...
- AUSTRALIAN MAGNESIUM CORP SET TO FINALISE STANWELL PJT FUNDING.
- News wire article from: AsiaPulse News September 20, 2001 700+ words
BRISBANE, Sept 20 Asia Pulse - Australian Magnesium Corp Ltd (AMC) (ASX:ANM) said today it is on the...underwritten offer. "A number of aspects of the revised funding package are yet to be finalised, however, the company confirms...
- AUSTRALIAN MAGNESIUM CORP PREPARES FOR US$347 MLN EQUITY RAISING.
- News wire article from: AsiaPulse News July 3, 2001 700+ words
BRISBANE, July 3 Asia Pulse - Australian Magnesium Corporation Ltd (AMC) (ASX:ANM) has boosted its...of a total $A1.7 billion ($US869.55 million) funding package for development of the Stanwell magnesium project...
- SHARES IN AUSTRALIAN MAGNESIUM CORP FALL MORE THAN 7 PCT.
- News wire article from: AsiaPulse News June 20, 2001 700+ words
BRISBANE, June 20 Asia Pulse - Shares in Australian Magnesium Corp (AMC) (ASX:ANM) fell more than 7 per cent...US353.26 million) share offer as part of a funding package to build its $A1.7 billion ($US883.15 million...
- Equity funding blow for Stanwell.(Australian Magnesium Corp. Ltd. withdraws...
- Magazine article from: Mining Journal July 27, 2001 700+ words
Australian Magnesium Corp. Ltd (AMC) has withdrawn the A$680 million international...considering. AMC will now work with its financial advisers on a revised funding package. Meanwhile, the Premier of Queensland, Peter Beattie, pledged...
- $50 million boost for Australian Magnesium technology.
- Press release article from: M2 Presswire November 14, 2000 700+ words
...Government: $50 million boost for Australian Magnesium technology (C)1994-2000 M2...towards further development of the Australian Magnesium process technology, the Minister...metal," Senator Minchin said. The Australian Magnesium process technology is jointly owned...
- Australian Magnesium revives equity raising to fund plant.
- News wire article from: Australasian Business Intelligence October 17, 2001 700+ words
...venture in Queensland is a venture of Australian Magnesium Corporation. A share raising will...finalise the financing of the venture. Australian Magnesium Corporation has an agreement with...Mining has a 62.4 shareholding in Australian Magnesium Corporation. The equity raising...
- AUSTRALIAN MAGNESIUM CORP PATENTS MAGNESIUM ALLOY.
- News wire article from: AsiaPulse News October 15, 2002 700+ words
...Asia Pulse - Light metals group Australian Magnesium Corporation Ltd (ASX:ANM) has...engine blocks, the would need to use Australian Magnesium's special alloy that could withstand...fuel economy and lower emissions. Australian Magnesium chief executive Rod Sharp said AMC...