Sunbird off to a flyer

AUSTRALIAN Securities Exchange-listed Sunbird Energy has received a huge shot in the arm for its Ibhubesi gas project in South Africa, securing a $A25 million capital injection at up to a 79% premium on its previous traded share price – and adding a strategic partner to boot.

The "transformational" financing deal is a major step for Ibhubesi, the most advanced indigenous gas-to-power project in energy-starved South Africa.