Mineral Commodities Ltd (ASX: MRC) has entered into a binding agreement to sell its Skaland Graphite Project in Norway to Norge Mineraler Holding AS for USD$11.75 million. This includes a USD$250k non-refundable fee, a USD$1 million refundable deposit, and USD$10.5 million payable upon completion. Norge Mineraler, a subsidiary of UK-based Norge Mining Ltd, will assume all liabilities related to Skaland, excluding intercompany loans. Proceeds from the sale will be used to clear MRC’s financial liabilities and fund general working capital, enabling MRC to focus on its Munglinup Graphite Project and downstream plans in Australia.
The transaction requires shareholder approval and fulfillment of conditions, including third-party consents and conversion of intercompany loans. MRC anticipates finalizing the deal by mid-February 2025. Upon completion, MRC expects significant improvements in equity interests and EBITDA, though annual revenue will decrease. A shareholder meeting is planned for early February 2025 to approve the deal.
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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.
