As detailed by the company in a statement sent to Energy Reportreceived offers for more than US$76 million. The cutting rate is 8%with payment of semiannual interest and amortization of capital to the 30 and 36 months.
The funds raised will be used to finance, mainly, working capital and to refinance liabilities for the commercial line of business.
“The high level of investor response reflects the market’s confidence in the potential of the lithium carbonate industry, as well as in the financial strength of the company and its medium and long-term business strategy,” express Pablo TrumperCFO of EXAR.
The operation was carried out under the coordination of Banco Santander and ICBC as organizers and placement agents, while Banco Galicia, Banco BBVA, Macro Securities, Banco Comafi, Balanz, Banco Mariva, Banco Supervielle, Puente, Allaria, Invertironline, TPCG, MAX Capital , Global Valores, Neix, Cohen and others, act only as underwriters.
In the press report EXAR highlighted the “solid competitive position” of the mining company in the market lithium carbonatethe support of its shareholders and a growing generation of cash flow. In addition, it indicated that it operates with firm projections regarding the future generation of flows.
Lithium: who are the shareholders of Minera EXAR?
EXAR is an Argentine company made up of Ganfeng Lithium, Lithium Argentina and Jujuy Energy and Mining State Society (JEMSE) as shareholders.
The company concentrates its operations in the Cauchari-Olaroz Salar, in Jujuy, where it develops the “Cauchari-Olaroz Project”.
With a production capacity of 40,000 tons per year of lithium carbonate battery quality, the company has the installed capacity to become the largest producer of lithium carbonate in Argentina.
Currently, the plant is in the operational start phase and expects to produce between 20,000 and 25,000 tons this year.
After placing your first ON, EXAR reaffirmed its leadership in the lithium sector, consolidating itself as a key player in mining. “Its ability to exceed placement expectations and obtain a positive response from the market highlights confidence in its business model, its financial strength and its growth prospects,” the shareholders noted.
Source: Ambito
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