ISR Capital confident of ability to fund commercialisation of mining asset

Singapore

ISR Capital said on Tuesday that an estimate for the initial development costs of a mining asset in Madagascar is based on its chairman's industrial experience and that the company is confident that it has the means to commercialise the project.

In a reply to queries by the Singapore Exchange (SGX), the company's directors also provided unqualified confirmation that it was not detrimental to shareholders or the project to waive certain conditions regarding the obtaining of a budget and liquidity plan in order to complete the acquisition of the mining asset.