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Comet Ridge Ltd ( (AU:COI) ) has shared an update.
Comet Ridge Limited announced the refinancing and extension of its $9.5 million loan facility with PURE Asset Management Resources Fund, now due in June 2027. This move, supported by two new co-investors contributing $3.5 million, provides Comet Ridge with the financial flexibility needed for its Mahalo Joint Venture Gas Project. The refinance, which maintains existing interest rates and security terms, underscores continued investor confidence in Comet Ridge’s strategic projects, particularly the Mahalo Hub project, which is seen as a key development in Australia’s East Coast gas sector.
The most recent analyst rating on (AU:COI) stock is a Hold with a A$0.21 price target. To see the full list of analyst forecasts on Comet Ridge Ltd stock, see the AU:COI Stock Forecast page.
More about Comet Ridge Ltd
Comet Ridge Limited (ASX: COI) is a publicly listed Australian energy company focused on the development of natural gas resources for the strained east coast Australian market. The company has tenement interests and a suite of prospective projects in Queensland, with its flagship Mahalo Gas Hub project consisting of low-cost, sales-spec natural gas blocks. Comet Ridge aims to transition its Mahalo Gas Hub assets into significant gas supply for the east coast gas market, starting with Mahalo North and the larger Mahalo Gas Project, in joint venture with Santos QNT Pty Ltd.
Average Trading Volume: 1,068,262
Technical Sentiment Signal: Sell
Current Market Cap: A$161.5M
For detailed information about COI stock, go to TipRanks’ Stock Analysis page.