Walkabout signs EPCM Heads of Agreement with Deferred Payment Funding

Walkabout Resources (ASX:WKT) is pleased to report that is has signed a Heads of Agreement (HOA) with a private mid-sized engineering Company, Yantai Jinpeng Mining Machinery (Jinpeng) in China to engineer, manage and build the Lindi Jumbo process plant and shared infrastructure package onsite in south eastern Tanzania.
The Engineering, Procurement and Construction Management (EPCM) service contract will include a Deferred Payment Option (Funding) by means of a fasttrack application already underway, which provides access to funding provided through the Chinese Governments’ new US$1 trillion “Silk Road – One Belt, One Road” (Silk Road) initiative.
Executive Chairman of Walkabout Resources, Trevor Benson, commented:

“Jinpeng is a highly competent and experienced engineering Company.
This EPCM and deferred payment funding is an optimal outcome for our fast-tracked development strategy. This funding model should significantly reduce the Project capital required by the Company.”

Click here to read the full text release.