Metarock Group Limited (AU:MYE) has released an update.
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Metarock Group Limited successfully completed the sale of its PYBAR business for net proceeds of $46.2 million, significantly improving its financial position with a net cash balance of $21.7 million as of June 30, 2024. Despite the sale leading to a slight dip in quarterly revenue to $110 million, the company maintained a healthy EBITDA of $12.8 million. Future operations face challenges due to the early closure of Glencore’s Integra mine and the suspension of Anglo American’s Grosvenor mine operations after an incident.
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