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BUZZ-Australia's Andromeda Metals gains on entering $47 mln debt refinancing

Reuters
Mar 31, 2025
BUZZ-Australia's Andromeda Metals gains on entering $47 mln debt refinancing

** Shares of Andromeda Metals ADN.AX rise 6.3% to A$0.0085

** Earlier in the day, stock rose as much as 12.3% to A$0.0090 - its highest level since October 16, 2024

** Industrial minerals co enters into exclusive negotiations with Merricks Capital for a debt project financing facility with a limit of up to A$75 million ($47.09 million)

** Says if co breaches exclusivity arrangements before July 31, 2025, a break-fee of up to 1% of the facility limit (plus GST) will apply

** About 19.4 mln shares change hands, 6.6x the 30-day average of 2.9 mln shares

** ADN up 21.4% YTD, including current session's moves

($1 = 1.5926 Australian dollars)

(Reporting by Manasi Dasa in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))

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