Tharisa PLC (LSE:THS, JSE:THA, OTC:TIHRF) (LON:THS) subsidiary Karo Mining's Bernie Pryor speaks to Proactive following the announcement of a fixed income note issue to raise US$50mln.
The offering will be listed by way of introduction on the Victoria Falls Stock Exchange (VFEX) and the proceeds from the bond will be applied to part fund the Karo platinum project.
The capital raise forms part of a broader capital strategy by Tharisa to develop Karo into a global-scale platinum producer.
Pryor says that Karo's project in Zimbabwe is in the "right zip code" for platinum mining and expects the mine to produce around 190,000oz per year.