Metro Mining Limited (ACN 117 763 443) (ASX: MMI) (Metro Mining) wishes to advise that it is not in a position to make an announcement at this time regarding ongoing negotiations with existing lenders of Metro Mining in relation to a potential bridge finance facility (Announcement), as referenced in its request for trading halt dated 25 May 2021 and in its request for suspension dated 27 May 2021.
Negotiations with the existing lenders are progressing but have not yet been finalised, Metro Mining expects that it will be in a position to release the Announcement by no later than Monday, 7 June 2021. Metro Mining also notes that loading of ships recommenced 1 June 2021 after a short suspension of 7 days.
As noted at the recent Metro Mining AGM, given high ocean freight rates the company has been selective with the scheduling of shipments which has, and will continue to cause, gaps in our shipping schedule. However, 2021 production and shipping forecasts at this time remain unchanged.
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