Alice Queen (ASX:AQX) said its Dartbrook joint venture with Tetra Resources has entered into a further amendment of the existing senior secured facility with Vitol Asia to increase the commitment by $4.2 million to $112.8 million from $108.6 million, according to a Friday New Zealand bourse filing.
The terms of the facility are consistent with the previous senior refinancing, the filing added.
The company said it will use the updated facility for additional working capital to cover short-term funding needs of the project, in anticipation of a ramp-up in washed coal sales.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.