Australia's Metro Mining rises on securing facility to fund Queensland project

Metro Mining

13/03/2023 01:11

** Shares of Metro Mining Ltd  MMI.AX  rise as much as 20%
to A$0.012, their highest level since Feb 28
    ** Miner enters facility agreement with Nebari Natural
Resources Credit Fund I, LP and Nebari Natural Resources Credit
Fund II, LP 
    ** Agreement for a financing facility of up to $30 mln
    ** Says proceeds from Facility allow funding of the
expansion of co's Bauxite Hills Mine in Queensland
    ** About 38.3 mln shares change hand compared to 30-day
average trading volume of 17.1 mln shares 
    ** Shares of co are down 28.6% YTD as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))