ENVIRONMENT

Metarock cashed up after asset sales

UNDERGROUND mining contractor Metarock had $12.9 million of cash and up to $30.4 million of working capital facilities following asset sales and a capital raising during the June quarter.

Net cashflows from operating activities showed an improvement of $4.1 million compared to the prior quarter.

Net cashflows from operating activities showed an improvement of $4.1 million compared to the prior quarter.

Metarock negotiated with several parties in relation to the sale of surplus assets to further reduce debt as part of the company's recapitalisation plan.  By the end of the quarter, the company reported...

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