Zanaga Iron Ore Co Ltd (AIM:ZIOC, OTC:ZIOC) has signed a binding term sheet with Red Arc Minerals worth up to $25 million. The cash funds engineering work at the Zanaga project in the Republic of Congo, and could lead to a final investment decision, without diluting shareholders. Sunda Energy PLC (AIM:SNDA) has lined up up to £1.5 million in unsecured funding from its chief executive. It’s pushing ahead with a potential acquisition while still working to get its Timor-Leste gas project back on track. AFC E ...