https://www.miningweekly.com

Metals X ticks loan boxes

18th September 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Metals X has completed a A$35-million loan facility agreement with Citibank after completing all the conditions precedent.

Metals X reached an agreement on the loan facility at the end of August this year, which will be used for development expenditure at the Nifty copper operation, and for capital expenditure and working capital purposes.

The facility will have a four-year term and will be repaid in quarterly arrears, starting at the end of December this year.

Metals X on Wednesday told shareholders that the company had completed the tin hedge programme required to draw down the remaining A$12.5-million of the facility, with the final draw-down expected on September 20.

Under the tin hedge programme, Metals X forward sold 3 310 t of tin, which will realise an average price of over A$25 000/t, for approximately 50% of the production over the next 18 months.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ASTPM
ASTPM

Established in 1983, the ASTPM is an industry association and representative body of the welded carbon steel tube and pipe manufacturers of South...

VISIT SHOWROOM 
Columbus Stainless
Columbus Stainless

Columbus Stainless, based in Middelburg, Mpumalanga, is Africa’s only producer of stainless steel flat products. In addition, Columbus is the only...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.044 0.701s - 111pq - 2rq
Subscribe Now