03:18 PM EST - Noventa : provided a further update on its operations and funding requirements. The board of Noventa is now in a position to confirm that it will need to raise approximately $25 million U.S. and has initiated discussions regarding funding options. This funding is required to bring the new plant at Marropino, with a capacity of 600,000 lbs per annum, into full operation. Noventa hopes to secure the funds prior to the end of July to enable the Company to complete the commissioning of the new plant in Q4, consistent with previous announcements. The Company intends to ramp-up the production from 500,000lbs of contained tantalum pentoxide (Ta2O5) to the full rate of 600,000 lbs of contained Ta2O5 per annum by the end of the year. Noventa
shares T.NTA are trading down $0.14 at $0.99.
