Dual-listed coal miner Paringa Resources has entered into a royalty finance and entitlement offer to raise funds to ramp-up production at its Poplar Grove mine, in Western Kentucky.
The company has entered into a term sheet to grant a royalty to Tribeca Gold Resources Credit to raise an initial $9-million, and will conduct a one-for-four pro-rata accelerated non-renounceable entitlement offer to raise a further $8.1-million.