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Cancana secures $2m short-term loan to help with manganese project

By Liz Gyekye
Published: Monday, 09 November 2015

At a time when explorers are finding it difficult to raise financing, Cancana has managed to secure funds from its JV partner. It is hoping the money will help advance its manganese exploration programme in Rondonia, northwest Brazil.

TSX-V-listed Canadian explorer Cancana Resources Corp. has entered into a loan agreement for a short-term loan, worth $2m, from its largest shareholder and joint venture (JV) partner Ferrometals BV, a private mining and metallurgical company.

The proceeds of the loan will be used for general working capital purposes, including the settlement...

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