Kaboko Mining (ASX: KAB) has received a notice of initial substantial shareholding from US-based investment fund YA Global Master SPV Ltd, which now holds 67,352,941 shares or a 7.1% interest in the company.
The shares were issued to YA Global in consideration for services, collateral and advance shares relating to a $700,000 convertible securities agreement.
Kaboko had recently completed exploration drilling at its the Peco Manganese Mine at its Mansa Project in Zambia that could support extensions of its mineralisation.
It had also drawn down a further US$1.16 million from Tranche B of the $10 million facility from Noble for additional key mining plant and equipment to accelerate production from Mansa.
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