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Sprott backing Metro

RESOURCE sector investment heavyweight Sprott is said to be backing Metro Mining’s Bauxite Hills venture, with the Canadian headquartered firm and a party associated with Metro’s largest shareholder to lend the ASX-listed company about A$40 million to build the project in Far North Queensland.

Michael Quinn
Sprott backing Metro

Few details were provided by Metro with completion of the deal expected early next quarter and the debt to replace an existing $15 million short term facility. Debt drawdown also hinges on “project equity...

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