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Globe Metals & Mining Limited ( (AU:GBE) ) has issued an announcement.
Globe Metals & Mining has converted a substantial portion of a loan from director Bo Tan into equity by issuing 56,192,373 new shares at $0.051 each, valued at $2.87 million, and will repay the remaining $146,882 from working capital, leaving the company debt-free. The move significantly strengthens Globe’s balance sheet and is presented as a key step in positioning the company for the next phase of development and financing of its Kanyika Niobium Project in Malawi, underlining strong ongoing support from its director and potentially improving its capacity to attract future project funding and partners.
More about Globe Metals & Mining Limited
Globe Metals & Mining Limited is an ASX-listed resources company focused on developing the Kanyika Niobium Project in central Malawi. The project, secured under a large-scale mining licence, targets niobium and tantalum alongside associated elements such as uranium, zircon, hafnium, praesidium and neodymium, with an integrated mine-site plan covering mining, concentration and refining to produce high-purity oxides for export markets.
Average Trading Volume: 192,335
Technical Sentiment Signal: Sell
Current Market Cap: A$39.68M
See more data about GBE stock on TipRanks’ Stock Analysis page.