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The latest announcement is out from Australian Pacific Coal ( (AU:AQC) ).
Australian Pacific Coal Limited has announced an update on the senior secured finance facility for the Dartbrook project, indicating that Events of Default are currently subsisting due to unsatisfied Conditions Subsequent. Despite this, Vitol Asia Pte Ltd, the senior lender, is not taking further action and has shown continued support by increasing funding. The Dartbrook JV is making progress with coal railing and expects to meet the remaining conditions soon, with a focus on commencing exports of its thermal coal product.
More about Australian Pacific Coal
Australian Pacific Coal Limited (ASX: AQC) is involved in underground mining operations at the Dartbrook Coal Mine, located in the Hunter Valley, NSW. The company focuses on producing high-quality, high-energy, low-sulphur thermal coal and benefits from access to world-class infrastructure and a skilled workforce. The Dartbrook Joint Venture includes Australian Pacific Coal Limited and Tetra Resources Pty Ltd.
Average Trading Volume: 1,224,201
Technical Sentiment Signal: Sell
Current Market Cap: A$38.53M
See more insights into AQC stock on TipRanks’ Stock Analysis page.