Britannia Mining, a UK-based mining development Company, announced today, that European private equity firm, REM Capital, has provided Britannia with a draft timetable for an intended third quarter capital infusion.
Now positioned to generate sustainable revenue through two ready mined iron ore supply outlets, secured in the first quarter by Britannia’s CEO Kenneth Roberts, investment opportunities have solidified substantially. An investment package originally contemplated by REM Capital at the beginning of the year (http://finance.yahoo.com/news/britannia-mining-talks-european-finance-141144320.html), has now come into play.
Mr. Kenneth Roberts stated, “We are certainly prepared to properly leverage and deploy this capital in the immediate execution of our ready mined operations in Malaysia, as well as the expansion of our exploratory and development operations in both Malawi and the Yukon.”
The company anticipates that it will begin yearly distribution of roughly 1.2 million metric tons (http://finance.yahoo.com/news/britannia-executes-second-mou-valued-130000753.html;_ylt=AwrBJR7rSotT3nIAvl.TmYlQ) of ready mined iron ore through Malaysian ports. Management has indicated, that while the anticipated revenues are substantial, the upcoming capital infusion will better position Britannia to take a larger stake in Malaysian export operations, significantly increasing the ready mined revenue model.
Mr. Roberts concluded, “With a funding commitment of this size, we expect that in 2014, we will be able to begin growing Britannia to an economic level our shareholders will appreciate and greatly benefit from.”