Strandline Resources Limited (AU:STA) has released an update.
Strandline Resources Limited reported steady production at its Coburn Mineral Sands Project in April 2024, aligning with the company’s strategic review forecasts. The firm also drew an additional A$5m from lenders in May and is preparing for a two-week Mineral Separation Plant trial in June, which aims to enhance product separation without affecting shipments. Amidst ongoing financial reviews and a suspension in share trading, Strandline has also agreed to sell its Tanzanian mineral sands assets for A$43 million, which will be used to repay debt and for working capital.
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