The Singapore-listed company has made an initial drawdown of $US250 million to cover the previous $US230 million bridge facility, transaction expenses and to meet working capital requirements.
Straits chief executive Richard Ong said the completed loan facility arrangement put the company’s balance sheet in a strong and enviable position, with over $US100 million in cash or near cash, and another $US50 million still available under the revolving loan.
The company recently upgraded the total JORC resource of its Jembayan open cut coal mine by 45.87% to 254 million tonnes from the previous 138Mt, last updated in August.
A lot more exploration is planned with further JORC upgrades expected.
