Aurelia pays off Peak in just three months

STRONG cashflow generation has allowed Aurelia Metals to fully repay its debt to Investec early.

Aurelia pays off Peak in just three months Aurelia pays off Peak in just three months Aurelia pays off Peak in just three months Aurelia pays off Peak in just three months Aurelia pays off Peak in just three months

The Peak mine in NSW

The Investec Facility B was drawn down to A$45 million on April 10 to help fund the US$58 million acquisition of NewGold's Peak mine in New South Wales.

Aurelia said a strong operational performance in the June quarter had delivered a significant increase in cashflow and the company was in a position to fully repay the facility.

Investec's A$30 million guarantee facility remains in place and Aurelia is in discussions to enter into a revolving loan facility to provide financial flexibility.

The repayment comes after the company cleared in long-standing debt of $30.4 million with Glencore in April.

As of Saturday, Aurelia had a cash balance of $66.6 million and no bank debt.

Peak has outperformed for Aurelia since the company took ownership.

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