We update our Metals Exploration (“MTL”) model to reflect 2021 production, debt balance and the updated resource estimate. The Company has demonstrated a clear turnaround of the project, generating significant operating cash flow (FY’21: US$38.2m). We estimate MTL will extinguish its Senior Debt facility in Q3’22 which will reduce the Mezzanine interest rate to 7% from 15%, and then in-turn extinguish the Mezzanine in 2024. Once the debt has been paid off, MTL will have 2 ½ years of strong, unen ....
14 Feb 2022
Metals Exploration: Model update highlights strong operating FCFs and Senior Debt to be extinguished in H2’22
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Metals Exploration: Model update highlights strong operating FCFs and Senior Debt to be extinguished in H2’22
Metals Exploration plc (MTL:LON) | 5.6 0 2.7% | Mkt Cap: 118.9m
- Published:
14 Feb 2022 -
Author:
Roger Bell | Ryan Hampton -
Pages:
9
We update our Metals Exploration (“MTL”) model to reflect 2021 production, debt balance and the updated resource estimate. The Company has demonstrated a clear turnaround of the project, generating significant operating cash flow (FY’21: US$38.2m). We estimate MTL will extinguish its Senior Debt facility in Q3’22 which will reduce the Mezzanine interest rate to 7% from 15%, and then in-turn extinguish the Mezzanine in 2024. Once the debt has been paid off, MTL will have 2 ½ years of strong, unen ....