Bellzone struggles to find funding

17th Sep 2014 12:03

Bellzone Mining shares dropped on Wednesday as the iron exploration company revealed it is facing problems with finding enough funding to continue operations.The group said it is still in discussions with China Sonangol International to reach an agreement of a loan, as it only has enough capital to continue operations until mid-September.If the company does not find enough funding from investors by 22 September, it will be unable to continue operating in Guinea, West Africa.Bellzone is looking for other potential providers, but said “there can be no certainly that the required financing, either immediate or longer term, will be obtained".The company’s shares plunged on Wednesday by 20.29% to 0.55p at 12:03.