The company will issue a secured debenture to Noble Resources International, a wholly owned subsidiary of the Noble Group, to raise the $20 million cash to augment available funding and progress construction activities at Boikarabelo. An export coal offtake contract for 2.5 million tonnes of coal has also been entered into with Noble, with supply after production commences at the Boikarabelo mine. Coal prices will be set by reference to an internationally recognised index at the time of each shipment.