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Sunrise Energy Metals Ltd SREMF

Metals & Mining Industrial Metals & Minerals
Sunrise Energy Metals Limited is an Australia-based company engaged in the development of its Sunrise Battery Materials Complex (Sunrise Project) in New South Wales (NSW). The Sunrise Project is a supplier of battery raw materials and aluminum-scandium alloys. It is utilizing its Clean-iX resin technology for extraction and purification of a range of metals and progressing exploration activities at its other mineral tenements. Its Clean-iX Continuous Resin-In-Column is a continuous counter-current process that extracts metals from clarified leach solutions. Its Clean-iX Continuous Resin-In-Pulp is a continuous countercurrent process that directly extracts metals from leached pulps. It is advancing activities across its range of exploration assets in NSW. Its limestone exploration includes Hunters (EL9627), EL8883 Meloola and EL8833 Boona Gap, Gleninga South (EL9598) and Gleninga (EL8882). It also focused on rare earth elements exploration, which includes Minore (EL9031 and EL8961).


OTCQX:SREMF - Post by User

Sunrise Energy Metals Ltd
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Comment by Qbiton May 01, 2012 10:14am
498 Views
Post# 19856026

RE: Re: New Financing?

RE: Re: New Financing?

It was never implied that financing was complete. From the feb 13 2012 news release:

 

The C$75-million debt financing, C$60 million of which has been underwritten by Scotiabank as Mandated Lead Arranger, with the remaining C$15-million to be provided by Cat Financial, will be supported by a partial financial guarantee from Investissement Québec, a Québec government agency established to foster economic development. The debt facility will be secured by the assets of the Québec Lithium Project and contains normal commercial terms including a fee for the Investissement Québec guarantee. The facility is credit-approved subject to standard project financing conditions, including permitting requirements, legal documentation and completion of the remaining final project funding requirement of approximately C$25 million. Initial drawdown of the debt facility is expected in the second quarter of 2012.

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