Brief: NT Minerals Enters Binding Documentation For Convertible Note Facility Of A$2.5 Million

NT Minerals

09/03/2023 10:15

March 9 (Reuters) - NT Minerals Ltd  NTM.AX :
    * ENTERED INTO BINDING DOCUMENTATION WITH REFORME RESOURCES
PTY
FOR PROVISION OF CONVERTIBLE NOTE FACILITY OF A$2.5 MILLION
    * TONY KIERNAN HAS RETIRED AS CHAIRMAN
    * MAL JAMES APPOINTED CHAIRMAN
    * HUGH THOMAS IS ALSO STEPPING DOWN AS MANAGING DIRECTOR
    * UPDATE TO POTENTIAL LEGACY LIABILITY RELATING TO
REHABILITATION
OBLIGATIONS OF MCKINNON'S GOLD MINE LOCATED NEAR COBAR NSW
    * PRELIMINARY DISCUSSIONS WERE HELD BETWEEN DEPARTMENT OF
REGIONAL
NSW AND COMPANY REGARDING LEGACY REHABILITATION
    * BELIEVES IN POSITION TO ADEQUATELY ADDRESS ANY POTENTIAL
LEGACY
REHABILITATION ISSUE AS IT ARISES
    * MADE INITIAL OFFER TO DEPARTMENT ON 10 NOV TO RESOLVE BY
MAKING
FINANCIAL CONTRIBUTION OF A$1.7 MILLION FOR REHABILITATION OF
MCKINNON'S SITE
    * DEPARTMENT OF REGIONAL NSW HAS NOT PROVIDED ANY RESPONSE
TO
COMPANY IN REGARDS TO OFFER
    * OFFER WAS NOT AN ADMISSION OF EXISTENCE OF A LIABILITY BY
CO
    * COMPANY HAS NOW FORMALLY NOTIFIED DEPARTMENT OF REGIONAL
NSW
THAT OFFER IS NOW WITHDRAWN
    * MAY DRAW ON CONVERTIBLE NOTE FACILITY SHOULD REQUIREMENT
TO MAKE
PAYMENTS UNDER A LEGITIMATE REHABILITATION LEGACY CLAIM ARISE
    * ANTICIPATES SUSPENSION OF SHARES SHALL BE LIFTED FOLLOWING
COMPLETION OF CAPITAL RAISING, ANTICIPATED TO OCCUR ON OR AROUND
11 APRIL

Source text for Eikon:  ID:nASX51JSxY 
Further company coverage:  NTM.AX 

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