Metarock Finalizes PYBAR Sale, Strengthens Finances

Metarock Group Limited (AU:MYE) has released an update.

Metarock Group Limited has successfully completed the sale of PYBAR to Thiess Pty Ltd, resulting in a net cash position with proceeds of approximately $42.9 million, after expenses and debt repayments. This strategic move concludes Metarock’s turnaround plan, significantly strengthens its balance sheet, and allows the company to focus on its core Mastermyne mining services business. The deal is seen as a positive development for all stakeholders, positioning Metarock for future growth opportunities.

For further insights into AU:MYE stock, check out TipRanks’ Stock Analysis page.