Bellzone Mining plc – $100m CIF strategic investment and $100m additional proposed fundraising

Bellzone Mining plc – $100m CIF strategic investment and $100m additional proposed fundraising

CIF strategic investment of approximately US$100 million and proposed fundraising to raise up to a further US$100 million


  • China International Fund Limited (“CIF”) agrees to invest circa. US$100 million (£63.2 m million) in Bellzone by way of private placement at 80 pence per share (the “CIF Subscription”)
  • Bellzone to raise up to an additional US$100 million through a placing of new shares with institutional and other investors (the “Institutional Placing”)
  • Canaccord Genuity has underwritten US$50 million of the Institutional Placing
  • Certain major shareholders and other investors have already indicated their support for the Institutional Placing
  • Target 3-4 mtpa of production from Forécariah by Q1 2012 transforms Bellzone into near term producer
  • Placing ensures that Bellzone’s contribution to Forécariah is fully funded to production
  • Kalia development continues to provide medium term large scale production expansion
  • Placing to fund Bellzone’s share of the development of the Forécariah iron ore project in conjunction with its joint venture partner CIF and to advance certain aspects of its Kalia iron ore project


Nik Zuks, Chief Executive Officer commented “We are delighted by the support that CIF has shown us through this subscription and we believe that this support, combined with the funding from the institutional placing will provide Bellzone with the platform to develop Forécariah in conjunction with CIF and move the Company from a developer into a near term iron ore producer.  We are very excited about moving Bellzone into production and associated cashflow by the first quarter of 2012 which will also provide a positive impact on the development and funding strategies for the Kalia mine. ”

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