Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >

  
 
  
Reply to this topic

MMI, Metro Mining Limited
blacksheep
post Posted: Nov 12 2019, 01:35 PM
  Quote Post


Posts: 6,783
Thanks: 2303


A$47.5M Loan Facility from NAIF
Highlights

QUOTE
■ The Board of the Northern Australia Infrastructure Facility (“NAIF”) has made an Investment
Decision to offer a Loan Facility for Metro Mining Limited’s Bauxite Hill’s Mine Stage 2 Expansion
to 6.0 Million Wet Metric Tonnes (“WMT”) per annum.
■ The Facility is for up to A$47.5 Million provided through a loan for up to 9 years.
■ The NAIF funding is to be used for the construction and mobilisation of a Floating Terminal at
Skardon River. The Floating Terminal is the main component of Stage 2 comprising around 85%
of the total estimated capital costs.
■ Metro and NAIF are working together to finalise documentation and satisfy customary Conditions
Precedent (“CPs”) to drawdown including all Government approvals in relation to the financing.
■ The NAIF funding is a critical part of Metro’s funding strategy for execution of the expansion
at Bauxite Hills by 2021.
■ Final Metro Board decision will follow completion of the detailed engineering and design work
from Rocktree Consulting S.r.L (“Rocktree”).


QUOTE
The NAIF Facility is subject to written agreements being entered into between the parties and
satisfaction of customary CPs to drawdown. These CP include:
▪ Conclusion of the Federal Ministers’ consideration period as outlined in the NAIF Act 2016; and
▪ Finalisation of the Queensland Government’s consideration of the Project and its agreement
for the approved funds to be advanced.

Attached thumbnail(s)
Attached Image


 




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 



Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING