Metro completes loading of 2021 contracts

2022-02-17

Feb. 17, 2022 - Metro Mining Limited (ASX: MMI) (Metro or the Company) is pleased to announce that, on 16 February 2022, it completed loading of the final vessels to conclude 2021 contractual commitments of 3.1 Million Wet Metric Tonnes (WMT). Tonnage loaded in January and February is ~0.3 Million WMT. 

The resulting net financial position is sufficient for Metro to now proceed to our planned wet season shut down and conduct the scheduled maintenance programme. Target to restart ship-loading is the first week April 2022, weather permitting. 

The $5 million, short term bridging facility agreed with Greenstone Resources II (Australia) Holdings L.P. (Greenstone) and Lambhill Pty Limited (Lambhill) announced in December 2021 will not be drawn down. 

Metro Mining Managing Director and CEO Mr Simon Wensley said: 

“Metro made a deliberate decision to continue loading into the wet season to meet our customer commitments and expectations after earlier loading was impacted by weather, COVID-19 and supply chain issues. It also sets us up to do required maintenance on the plant and fleet before we restart in April. I want to pay tribute to the combined Metro and TSA team who have worked safely and in tough conditions to meet our customer commitments and maintaining the reputation that we will do what we say we will do. We have learned a great deal about wet season operation which we will factor into our planning into the coming year”.