Centrex Limited (ASX: CXM) has successfully secured a financing package of approximately AU$10 million from the National Australia Bank Limited (NAB) for its Ardmore Rock Phosphate Mine. This funding is designated for the Stage 1.5 Expansion and production ramp-up at Ardmore, a move aimed at significantly increasing production capacity by December 2024. The financing includes various components across different entities, with a significant portion allocated to Agriflex Pty Ltd, Centrex's wholly-owned subsidiary.
Robert Mencel, CEO of Centrex, expressed gratitude for the support from NAB, highlighting the strategic significance of this financing for the company's growth plans. The announcement comes as Centrex pursues its mission to contribute to Australasia's sustainable agriculture future through projects like Ardmore Phosphate and Oxley Potash, positioning itself as a major player in the global food production and nutrition supply chain. Additionally, discussions with Export Finance Australia are underway to secure a larger working capital facility to accommodate increased volumes expected in 2024 and beyond.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
