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The latest announcement is out from Jervois Global Limited ( (AU:JRV) ).
Jervois Global Limited announced a significant recapitalization agreement with Millstreet Capital Management, which involves converting debt into equity and injecting $145 million in new capital. This move aims to bolster the company’s financial standing, facilitate the restart of its São Miguel Paulista nickel cobalt refinery in Brazil, and continue operations uninterrupted during a pre-packaged U.S. Chapter 11 process. The restructuring plan ensures that trade creditors remain unaffected and aims to maintain operational stability across its global facilities.
More about Jervois Global Limited
Jervois Global Limited operates in the cobalt industry, focusing on the production and refinement of cobalt, with operations in Finland, the United States, and Brazil. The company is involved in the development of a U.S. domestic cobalt refinery and aims to restart its nickel cobalt refinery in Brazil.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $18.55M
For detailed information about JRV stock, go to TipRanks’ Stock Analysis page.
