29metals Ltd. (AU:29M) has released an update.
29Metals Limited has secured a US$50 million offtake finance facility with Glencore, ensuring additional liquidity ahead of their quarterly report and aiding the restart of Capricorn Copper operations following extreme weather damage. The terms include a maturity date in October 2028 and an interim insurance progress payment increases aggregate proceeds to $40 million for Capricorn Copper’s surface damage. These financial advancements are set to bolster 29Metals’ position as they navigate operational challenges and market conditions.
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