Firefinch Limited (ASX: FFX) has confirmed that funds totalling US$130 million have been received by the Goulamina Lithium Project Joint Venture Company (JV Company) from Jiangxi Ganfeng Lithium Co. Ltd.
Firefinch and Ganfeng each hold a 50% interest in the JV Company.
The US$130 million of equity funding provided to the JV Company by Ganfeng comprises US$39million that was released from escrow and a further US$91 million second tranche investment.
Ganfeng is further obliged to provide either US$40 million of Ganfeng direct debt or source US$64 million of third-party debt.
Taken together, Ganfeng’s equity and debt funding package of at least US$170 million is expected to substantially fund the Goulamina Lithium Project through the development phase.
Firefinch is proceeding with the demerger of Goulamina into Leo Lithium Limited in accordance with regulatory timeframes.
Firefinch (ASX: FFX) is a Mali focussed gold miner and lithium developer. Firefinch has an 80% interest in the Morila Gold Mine (Morila) and it currently owns 100% of the Goulamina Lithium Project.
Goulamina is one of the world’s largest undeveloped high quality spodumene deposits. For further information please visit: https://firefinchltd.com/
