Strandline Resources Limited (AU:STA) has released an update.
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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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