Metro Mining (ASX:MMI) restructured its debt facility with Nebari Natural Resources Credit Fund I and Nebari Natural Resources Credit Fund II for an additional $21.5 million debt facility, according to a Wednesday filing with the Australian bourse.
Around $11.5 million of the debt will be used to convert Nebari's private royalty into senior debt, while $10 million will be established as a standby facility with a $5 million minimum drawdown, the filing said.
The facility is expected to de-risk operations at the mining firm's Bauxite Hill mine in Queensland, as per the filing.
The company's shares rose almost 4% in recent Wednesday trade, hitting their highest since July 2020.
Price (AUD): $0.06, Change: $+0.002, Percent Change: +3.64%
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