Jervois Global Limited: Quarterly Activities Report as of 30 September 2024

Jervois Global Limited (ASX: JRV) successfully wrapped the September 2024 quarter with a solid cash position of US$15.4 million, alongside US$33.0 million in physical cobalt inventories and total drawn senior debt of US$147.9 million. While the cash balance decreased from US$21.3 million at the end of the previous quarter, this change is a strategic response to its ongoing efforts, including inventory replenishment at Jervois Finland and essential holding costs at its 100%-owned ICO mine site in the U.S. and the São Miguel Paulista nickel-cobalt refinery in São Paulo, Brazil. Moreover, it invested US$2.3 million in pursuit of a robust balance sheet restructuring initiative, ensuring its long-term financial health.

In a significant development this quarter, Jervois, and its principal lender—who is both the majority holder of the US$100.0 million 12.5% ICO Senior Secured Bonds and the provider of Jervois Finland’s working capital facility—enhanced their financial flexibility by amending the JFO Facility. This amendment introduced a US$7.5 million term loan facility to further empower their corporate and working capital strategies. These strategic moves reinforce its commitment to growth and stability, positioning it favorably for the future.

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