Previously due to mature on Friday, Cockatoo said it was recently extended to December 27 in agreement with its major Korean shareholder SK Networks.
“The extension of the facility allows Cockatoo to progress its current funding discussions with a number of parties, including SKN, regarding the refinancing of the facility and future funding of the
Baralaba expansion,” Cockatoo said.
The Queensland government recently gave approval to expand the Baralaba surface mine to 1 million tonnes per annum for 30 years.
A bankable feasibility study and an optimised supplementary study for the Baralaba expansion estimated the net present value of the project at $1028 million.
The pulverised coal injection and thermal coal mine produced 188,000 tonnes run of mine in the June quarter.
Cockatoo shares were down 0.1c or 1.6% to 6.2c by 11.30am AEST.
