2316 GMT - Metro Mining's balance sheet doesn't concern Shaw & Partners right now, despite questions from clients. Metro Mining had A$57 million of net debt at end-June, and intends to repay its junior debt before refinancing its facility with Nebari. Shaw analyst Andrew Hines models a junior debt repayment of A$12.0 million in the September quarter with the balance of A$11.3 million in the December quarter. "We assume that post the repayment of the junior debt, Metro will refinance the Nebari debt and royalty with a A$50 million debt facility with traditional lenders," Shaw says. That puts Metro Mining on track for A$139 million of net cash by end-2025, based on cash flow projections, and will be well placed to consider a maiden dividend, Shaw says.(david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
September 15, 2024 19:16 ET (23:16 GMT)
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