The latest announcement is out from Genmin Ltd. ( (AU:GEN) ).
Genmin Limited has secured a A$3 million unsecured loan facility from its major shareholder, Tembo Capital, with an initial drawdown of A$2.5 million. The funds will be used for general working capital and early works at the Baniaka iron ore project, which is fully permitted and has recently signed a Mining Convention with Gabon. This move is part of Genmin’s efforts to advance project funding and support the commencement of first commercial production at Baniaka by late 2026.
More about Genmin Ltd.
Genmin Limited is an emerging African iron ore producer focused on its 100% owned Baniaka iron ore project located in the Republic of Gabon, west Central Africa. The company operates within the mining industry, with a primary focus on iron ore production.
YTD Price Performance: -7.50%
Average Trading Volume: 480,503
Technical Sentiment Signal: Hold
Current Market Cap: A$32.83M
For an in-depth examination of GEN stock, go to TipRanks’ Stock Analysis page.