Coolabah Metals Ltd. ( (AU:CBH) ) just unveiled an update.
Broken Hill Mines, a subsidiary of Coolabah Metals Limited, has secured a binding conditional term sheet with a major North American insurer to replace its existing A$17 million cash-backed environmental bond with a surety bond. This strategic financial move will free up previously quarantined cash, allowing the company to invest in growth activities and general working capital for its Rasp and Pinnacles Mines. The surety bond, featuring a four-year term at a 2.5% interest rate, is subject to final documentation and approvals expected by June 2025. This development is anticipated to enhance the company’s operational flexibility and financial positioning.
More about Coolabah Metals Ltd.
Coolabah Metals Limited, soon to be renamed Broken Hill Mines Limited, operates in the mining industry with a focus on the Rasp and Pinnacles Mines. The company is engaged in activities related to mineral extraction and development, aiming to optimize its operations and financial resources.
Technical Sentiment Consensus Rating: Strong Sell
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