Cancana secures $2m short-term loan to help with manganese project
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
The proceeds of the loan will be used for general working
capital purposes, including the settlement...