Metgasco Ltd (AU:MEL) has released an update.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Metgasco Ltd has announced an increase in its debt facility with Glennon Small Companies, raising an additional $2 million to bring the total to $4.88 million with a 15.9% interest rate. This extension will allow the company to settle existing short-term loans and fund general operations, including the tie-in of the Odin-2 well. The revised agreement offers repayment flexibility, tying repayments to revenue generation, and includes a royalty agreement post-loan repayment.
For further insights into AU:MEL stock, check out TipRanks’ Stock Analysis page.