Strandline, which is looking to develop the Coburn Mineral Sands Project in WA, today announced a $US60m bond issue for the project. The bond, along with the $150m committed through the Norther Australia Infrastructure Facility (NAIF) means the project now has more than 80% of the capital requirements committed. Construction contractors and electricity supply agreements have been signed along with all key offtake agreements in place for Coburn, the project looks just about set to move into development. Shares are trading 3.64% higher
We own STA in the Emerging Companies Portfolio. The position will be reviewed on FID at Coburn.
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