Comet Ridge's Mahalo JV Gas Project Advances to NAIF Due Diligence Phase

MT Newswires Live2025-11-27

Comet Ridge (ASX:COI) has received confirmation that its Mahalo joint venture gas project (MJVGP) has successfully passed the Northern Australia Infrastructure Facility's (NAIF) strategic assessment phase and is moving into the due diligence stage, bringing the project closer to securing debt financing, according to a Thursday filing with the Australian bourse.

The completion of NAIF's strategic assessment does not constitute a financing commitment, and there is no certainty that an agreement with MJVGP will be reached, per the filing.

The company plans to complete the overall funding package, comprising debt and equity, and make a final investment decision in the first half of 2026, while also finalizing front-end engineering design and gas sales agreements, the filing added.

The company's shares rose 2% in recent Thursday trade.

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