Shaw River Manganese (ASX:SRR) has trebled over the past month after announcing a game-changing funding deal, with more upside ahead
Shaw River Manganese (ASX:SRR) has trebled over the past month after announcing a game-changing funding deal, with more upside ahead. The company is our sole portfolio manganese exposure and is targeting a low-cost, scalable start-up development of its flagship Otjozondu manganese project in Namibia, which hosts a 17-million tonne resource, situated in an area from which manganese ore has been exported for more than 50 years. Shaw River has just announced a significant new debt-funding facility worth up to $8m via Bryve Resources that will help accelerate transition of the Otjo project to production status. Shaw River's share price has recovered strongly from a 12-month low of $0.003 during July to a current high of $0.011 - a more-than-trebling in the space of little over a month.
Gavin has been a senior resources analyst following the mining and energy sectors for the past 25 years, working with Intersuisse and Fat Prophets. He is also the Executive Director, Mining & Metals with Independent Investment Research (IIR).