29Metals Gets Limited Balance Sheet Breathing Space -- Market Talk

Dow Jones04-23

0010 GMT - 29Metals' new US$50 million offtake facility with Glencore, and a A$16 million interim payment from insurers, ease pressure on the base metals miner's balance sheet a tad. In a note, Jefferies analyst Daniel Roden says these moves defer additional funding requirements to 2H of FY 2025. Still, a funding gap remains, with A$140 million of additional capital required by FY 2026 to meet debt and stamp duty obligations, Jefferies says. "While we are bullish on base metals, the path for 29Metals to meet its debt and stamp duty obligations is beset with risk." Jefferies retains a hold call on the stock. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

April 22, 2024 20:11 ET (00:11 GMT)

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Still, a funding gap remains, with A$140 million of additional capital required by FY 2026 to meet debt and stamp duty obligations, Jefferies says. \"While we are bullish on base metals, the path for 29Metals to meet its debt and stamp duty obligations is beset with risk.\" Jefferies retains a hold call on the stock. 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In a note, ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4168","symbol_name":"多种金属与采矿","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2429518570","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2429518570","pubTimestamp":1713831060,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0010 GMT - 29Metals' new US$50 million offtake facility with Glencore, and a A$16 million interim payment from insurers, ease pressure on the base metals miner's balance sheet a tad. 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