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Elixir Energy Limited ( (AU:EXR) ) has provided an announcement.
Elixir Energy has secured a debt facility of up to $10 million from Endpoints Capital to forward-fund a portion of the research and development costs for its high-impact Lorelle-3 appraisal well in Queensland’s Taroom Trough. The funding is backed by an AusIndustry Advance Finding that allows up to a 48.5% refund on eligible drilling, analysis, completion and testing costs through the federal Research and Development Tax Incentive.
The facility, which carries a 1% drawdown fee and a capitalised interest rate of 15.75%, enables Elixir to access up to 80% of its expected FY26 R&D tax refund ahead of receipt, improving working capital during an intense operational period. Management says the structure, secured solely against the FY26 R&D refund and without equity-linked instruments, will support the Lorelle-3 campaign alongside the Diona-1 completion and Teelba 2D seismic program, enhancing the company’s financial flexibility as it advances appraisal of its contingent gas resources in the Taroom Trough.
The most recent analyst rating on (AU:EXR) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Elixir Energy Limited stock, see the AU:EXR Stock Forecast page.
More about Elixir Energy Limited
Elixir Energy Limited is an Australian gas exploration company and the largest acreage holder in the Taroom Trough in Queensland’s Bowen Basin. The company is focused on appraising about 2.8 TCF of independently certified 2C contingent gas resources near the Wallumbilla Gas Hub, close to major pipelines, LNG export facilities, refineries and Queensland’s mature onshore gas infrastructure.
This strategic position, in a basin geologically analogous to Canada’s Montney Formation and adjacent to Shell’s primary investment area in the Basin Centered Gas Play, underpins Elixir’s ambition to develop its gas resources. The proximity to existing midstream and export capacity offers potential cost and market-access advantages as the company advances its appraisal programs.
YTD Price Performance: 25.64%
Average Trading Volume: 5,765,388
Technical Sentiment Signal: Hold
Current Market Cap: A$164.4M
For a thorough assessment of EXR stock, go to TipRanks’ Stock Analysis page.