Australia's Terracom rises on debt reduction, strong cash position

Terracom

05/05/2022 04:40

** Shares of coal miner Terracom Ltd  TER.AX  climb as much
as 8.3% to A$0.585 - set to mark best session since April 13, if
gains hold 
    ** Co says it has reduced some of its debt by paying off a
further $15 mln to bondholders, reducing its principal owing on
the Euroclear bond facility to $38.8 mln  urn:newsml:reuters.com:*:nASX4vtmSL 
    ** Executive Chairman Craig Ransley says strong demand in
the thermal coal market supporting coal prices has led to solid
cash generation, which helped co repay the bond earlier than
forecast
    ** Stock had tripled in value this year, as of last close

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))