MinRes Could Ease Balance Sheet Pressure With Haul Road Deal -- Market Talk

Dow Jones04-26

2259 GMT - Mineral Resources could go a long way toward assuaging concerns about its balance sheet by completing the sale of a 49% stake in its Onslow Iron haul road. Jefferies values 100% of Onslow InfraCo at A$2.044 billion, so the sale of a minority stake would generate significant proceeds. In a note, analyst Mitch Ryan thinks MinRes's 2H net debt could total A$4.75 billion, given A$1.4 billion of capex and depressed lithium markets. Jefferies doesn't currently model the sale of a 49% stake in the haul road, which MinRes hopes to complete in 2H of FY 2024. "The investment case in MinRes is a balancing act--building balance sheet pressure offset by the promise of asset sell-downs and material earnings uplift once Onslow reaches nameplate," Jefferies says. It retains a hold call on the stock. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

April 25, 2024 19:00 ET (23:00 GMT)

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Jefferies values 100% of Onslow ...</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":"MIN.AU","symbol_name":"MINERAL RESOURCES LTD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2430626541","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2430626541","pubTimestamp":1714086000,"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":"2259 GMT - Mineral Resources could go a long way toward assuaging concerns about its balance sheet by completing the sale of a 49% stake in its Onslow Iron haul road. 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