Australia's Walkabout up on debt facility agreement for graphite project

Walkabout Resources

04/07/2023 03:32

** Shares of Australia's Walkabout Resources  WKT.AX  rise
as much as 6.1% to A$0.105, marking a third consecutive session
of gains 
    ** Stock hits highest and is set to mark its best day since
June 16, if current gains hold  
    ** Graphite miner says it has signed agreement for senior
debt facility worth $25 mln with investment fund manager Gemcorp
for its Lindi Jumbo graphite project in Tanzania
    ** Adds, under agreement, Gemcorp will benefit from an
upside participation based on a percentage of free cash flow,
after debt servicing for the 3-year loan period
    ** Stock has fallen 29.3% this year, as of last close

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))