Australian Pacific Coal Limited (AU:AQC) has released an update.
Australian Pacific Coal Limited (AQC) has achieved a significant milestone by reaching financial close on a US$60 million loan for its Dartbrook mine restart, with no injuries or environmental incidents reported in the quarter. The company is on track with preparations, including equipment orders and remediation works, and has set a target for first coal production in mid-2024. With $2.43 million in cash at the group level and $22.57 million at the joint venture level, AQC is gearing up for an accelerated restart to increase production volumes.
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