Astra Resources
The funds will be drawn down to advance the company’s portfolio of technology, mining and energy projects and in particular its flagship iron ore projects coming up in India
Past News Releases
RSSAdelaide, South Australia (PRWEB) August 09, 2013
GEM is a $US3.4 billion alternative investment group that manages a diverse set of investment vehicles focused on emerging markets across the world. It has recently made a number of successful investments in listed resource companies.
The key terms of the equity facility include:
- Limit of Euro 80 million, to be drawn down at the company’s discretion;
- Term of three years;
- Subscription share price to be based on an average closing price formula; and
- A further grant of 113 million options to GEM at the exercise price of the lower of €3.10 or the market price, for a term of 5 years.
Astra Resources CEO Mr Jaydeep Biswas says, "The funds will be drawn down to advance the company’s portfolio of technology, mining and energy projects and in particular its flagship iron ore projects coming up in India."
This is in addition to the funding from China Railway Financial Group announced on 19 July 2013 whereby they will provide major European prime bank facilities to Astra Resources.
For further information please contact:
Jaydeep Biswas, Chief Executive +61 419 533579
About Astra Resources Plc
http://www.astraresources.co.uk
Astra Resources’ global portfolio includes gold interests in Southeast Asia, coal mine in Africa, iron ore in India and the Philippines, carbon efficient and commodity businesses, high-strength T-Steel technology in Hungary and clean coal technology. Astra has a strong focus on acquiring certain technologies that will substantially alter the resources industry by changing end-user demand and costs. Astra aims to do this by identifying inefficient industries, or ones with high cost structures and dominant players or monopolists, and introducing its revolutionary technologies to disrupt the lifecycle of the product. This strategy is widely known as disruptive innovation, or disruptive technology, and refers to an innovation that helps create a new market and value network, eventually changing an existing market and value network by displacing an earlier technology.
About GEM Group
Global Emerging Markets Limited, http://www.gemny.com, was founded in 1991. GEM is a $3.4b investment group having completed 365 transactions in 60 countries. The firm is an alternative investment group that manages a diverse set of investment vehicles across the world. GEM’s funds include: CITIC/GEM Fund; Kinderhook; VC Bank/GEM Mena Fund*; GEM Global Yield Fund; GEM India.
(*GEM exited both its LP and GP stakes in Q1 2010.)
Contact:
Warren P. Baker, III – wbaker(at)gemny(dot)com – The Global Emerging Markets Group (GEM)