29
Mar
14:58
COBALT: First Cobalt repays Glencore debt with shares
Canada-based First Cobalt is repaying an outstanding loan of $5.5 million to Swiss-based miner and commodities trader Glencore AG with shares of common stock, Kallanish reports.
The companies have completed a loan amendment agreement with Glencore getting the 23.849m shares at $0.29/share in lieu of loan repayment.
In August 2019, Glencore provided the money that First Cobalt used for engineering studies, metallurgical test work and permitting at its planne…
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