Tlou Energy's Colm Cloonan tells the details of agreeing on a conversion price with the Botswana Public Officers Pension Fund (BPOPF) for the loan note for Lesedi, releasing the funds to move ahead with the project.
He says their results for the half-year were in line with expectations and now they have the funding that allows the firm to progress the development of the Lesedi project.
Losses for the six months to end December 2021 were US$1.27mln (US$1.07mln) with cash and equivalents of US$4.29mln at the period end.