Queen's Road Capital Announces US$50 Million Investment in Moxico Resources Plc
Queen's Road Capital Announces US$50 Million Investment in Moxico Resources Plc
Hong Kong, Hong Kong--(Newsfile Corp. - July 2, 2024) - Queen's Road Capital Investment Ltd. (TSX: QRC) (the "Company" or "QRC") is pleased to announce that it has entered into an agreement with Moxico Resources plc ("Moxico") whereby the Company will invest US$50,000,000 in a Moxico convertible debenture.
新聞稿 -- 2024年7月2日香港--(Newsfile corp.)--女王大道資本投資有限公司(TSX:QRC)(公司或QRC)很高興地宣佈,已與Moxico Resources plc(Moxico)達成協議,公司將投資5,000萬美元購買Moxico可交換債券。
The convertible debenture will have a 5-year term, carry an 11.0% coupon (7.5% payable in cash and 3.5% payable in shares), a 3% establishment fee and will be convertible into Moxico common shares at a price of GBP0.90.
可轉換債券的期限爲5年,分別提供11.0%的票面利率(其中7.5%以現金支付,3.5%以股票支付),3%的設立費用,並可按0.90英鎊的價格轉換爲Moxico普通股。
Moxico is an unlisted public mining company whose flagship asset is the Mimbula copper mine in Zambia. Mimbula was commissioned in December 2022 with annual production capacity of 10,000 tonnes per annum of copper through a heap leach and solvent extraction and electrowinning (SX/EW) plant. Mimbula is currently producing above nameplate capacity reaching 16,000 tonnes per annum in Q2-2024 at a cash cost of around US$1.25 per pound of copper, and at current production levels generating EBITDA in excess of US$8 million per month.
Moxico是一家未上市的公共礦業公司,其旗艦資產是贊比亞的Mimbula銅礦。 Mimbula於2022年12月啓用,每年可通過堆浸和溶劑萃取電解(SX / EW)工廠生產1萬噸銅。 Mimbula目前的產量已經超過額定產量,在2024年第二季度達到每年1.6萬噸,現金成本約爲每磅1.25美元,以及在當前產量水平下產生超過800萬美元的EBITDA。
Moxico is currently in the process of expanding operations at Mimbula to 56,000 tonnes per annum through a 46,000 tonnes per annum elevated temperature leaching (ETL) and SX/EW circuit. The expansion is expected to be commissioned in stages during 2025 and is fully funded. Moxico also owns several advanced copper development projects in Zambia as well as a 50% interest in the Khnaiguiyah joint venture in the Kingdom of Saudi Arabia, which is developing a polymetallic zinc-copper deposit with commissioning scheduled for late 2026.
Moxico目前正在將Mimbula的產能擴大到56,000噸/年,通過46,000噸/年升溫浸出(ETL)和SX / EW電路。 該擴建預計將在2025年分階段投入使用,並已獲得充分資金。 Moxico還擁有贊比亞的多個高級銅開發項目,以及與沙特阿拉伯王國合作的Khnaiguiyah合資企業的50%利益,該公司正在開發一處多金屬鋅銅礦牀,計劃於2026年底投入使用。
Warren Gilman, Chairman & CEO commented: "QRC is delighted to partner with Alan Davies and the exceptional Moxico team which has developed Mimbula from concept to significant cash flow in record time and cost. We are confident that this investment will assist Alan and his team to increase production at Mimbula to record levels and to further develop Moxico's many other projects across the globe."
華基資源董事長兼首席執行官吉爾曼評論說:“QRC很高興能夠與艾倫·戴維斯和傑出的Moxico團隊合作,他們在極短的時間和成本內將Mimbula從概念板塊發展成爲有意義的現金流。我們相信,這項投資將幫助艾倫和他的團隊將Mimbula的產量提高到創記錄的水平,並進一步開發Moxico在全球範圍內的其他衆多項目。”
This investment will increase QRC's convertible debenture portfolio to US$209 million, generating an average 9.6% coupon with record annual interest income of US$20.0 million, which will support future dividend payments to our shareholders. The investment also diversifies our portfolio allocation by increasing our copper exposure from below 5% to approximately 20%.
此項投資將增加QRC的可轉換債券組合到2.09億美元,產生平均9.6%的票面利率,年利息收入創下新高2000萬美元,將支持未來向我們的股東支付股息。 投資還通過將我們的銅貿易從不到5%增加到約20%而分散了我們的組合配置。
Queen's Road Capital intends to finance the investment with cash on hand and borrowings from existing and further debt facilities. Completion of the investment is subject to receipt of all required regulatory approvals.
皇后大道資本將通過現金和現有和進一步債務融資的借款進行投資。 完成投資需獲得所有必需的監管批准。
About Queen's Road Capital Investment Ltd.
關於Queen's Road Capital Investment Ltd.
QRC is a dividend paying, leading financier to the global resource sector. The Company is a resource focused investment company, making investments in privately held and publicly traded companies. The Company acquires and holds securities for long-term capital appreciation, with a focus on convertible debt securities and resource projects in advanced development or production located in politically safe jurisdictions.
QRC是一家領先的全球資源部門投資公司,是一家資源爲中心的投資公司,投資於私人持有和公開交易的公司。 該公司收購併持有證券以實現長期資本增值,重點是轉換性債務證券和位於風險安全管轄區的先進開發或生產中的資源項目。
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
多倫多證券交易所及其監管服務提供商(根據多倫多證券交易所政策中此項術語的定義)不對本公告的充足性或準確性承擔任何責任。
FOR FURTHER INFORMATION, visit the Company's website at or contact by email info@queensrdcapital.com or phone +852 2759 2022.
Caution Regarding Forward-Looking Statements
Certain statements in this News Release, which are not historical in nature, constitute "forward-looking statements" within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning the Company's growth strategy and the Company's future performance. These statements reflect management's current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward-looking statements to reflect events or changes in circumstances that occur after the date hereof.
有關詳細信息,請訪問公司的網站,或通過電子郵件info@queensrdcapital.com或電話(852)2759 2022與我們聯繫。
前瞻性聲明的警告 - 本新聞稿包含某些前瞻性聲明,包括有關私募定向增發收益使用的聲明。這些聲明受許多風險和不確定性的影響。實際結果可能與前瞻性聲明所預期的結果有所不同。在依賴前瞻性聲明作出決策時,投資者和其他人應認真考慮前述因素和其他不確定性,並不應過度依賴此類前瞻性聲明。除適用法律規定外,該公司不承諾更新任何其自身或代表其進行的口頭或書面的前瞻性聲明。
本新聞公告中的某些聲明不具有歷史性質,構成適用加拿大證券法中該短語下的“前瞻性聲明”。 這些聲明包括但不限於關於公司增長策略的聲明或信息以及公司未來表現的聲明。 這些聲明反映了管理層當前的假設和期望,本質上受到某些基本假設,未知和已知的風險和不確定因素以及其他因素的影響,這些因素可能導致實際結果,表現或事件與此類前瞻性聲明所表達或暗示的結果,表現或事件在本質上不同。 前瞻性聲明不應被視爲投資建議。 讀者應進行詳細的獨立調查和分析公司,並鼓勵在作出任何投資決策之前尋求獨立專業意見。 因此,讀者不應過分依賴任何前瞻性聲明。 除適用證券法規定外,公司不承擔更新或修訂任何前瞻性聲明以反映此後發生的事件或變化的義務。