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Tembo Capital backs Strandline with $6.6mln

Tembo Capital the London-based private equity advisor that targets junior and mid-tier mining opportunities in Africa and other emerging countries is making a $6.6 million investment in Strandline Resources, a Perth, Western Australia-based mineral exploration and development company. As part of the deal, Tembo’s John Hodder takes a seat on Strandline’s board.

The capital will be used to fund Strandline’s mineral sands portfolio in Tanzania, including fast-tracking development at the zircon-rich Fungoni deposit in Tanzania, performing extensional feasibility studies of high grade resources at Tajiri and continue exploration and discovery drilling activities across the Tanzanian mineral sands asset.

The deal represents a step in a long term investment strategy by Tembo in Strandline, with the private equity investor offering to provide up to $15 million in development funding over the medium to long term.

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