Aluminae Inc. has secured funding to complete its high-purity
alumina facility in Cap-Chat, Quebec.
company, which produces alumina from aluminous clay rather than
from traditional bauxite, said it had received a binding
commitment for $40 million from Los Angeles-based institutional
investor Crede Capital Group LLC.
Orbite is also
focusing on other financing initiatives, including some
involving talks with the Quebec government, it said, noting
that those talks have "progressed well."
The company has said
it is exploring funding options with the province (
amm.com, Oct. 15).
Meanwhile, trading of Orbites shares on the Toronto
Stock Exchange resumed Nov. 11 after being halted three days
earlier by the Investment Industry Regulatory Organization of