logo-loader
viewBlackwood Corporation

Blackwood increases drawdown facility with Noble Group to $6.5 million

au_coal350_510ae9640611b.jpg

Blackwood (ASX:BWD) has increased its draw down facility with its majority shareholder Noble Group to $6.5 million.

Under the agreement, the loan facility is being increased from $5 million to $6.5 million, providing the company with an additional $1.5 million in funds for working capital.

The repayment date of the facility has also been extended to 30 June 2013.

Blackwood is an emerging Australian energy resources company with primary focus on the exploration and development of its coal tenement in Queensland.

Blackwood through its subsidiary Matilda Coal, holds tenure over 5,500 square kilometres in the coal basins such as Galillee, Surat and Bowen Basins in Queensland.

It has established seven priority projects and 10 pipeline projects.

Last quarter, it expanded the JORC exploration target at the South Pentland project to 3.6 to 5 billion tonnes and now has a combined total of 5 billion to 6.9 billion tonnes of JORC exploration targets from its South Pentland, Taroom, Chinchilla and Bymount projects.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Blackwood Corporation

Price: - -

ASX:BWD
Market: ASX
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Mines & Money London expecting 'quality mid-tier and junior gold producers'...

''With the rising gold price, we've seen a lot of the quality gold mid-tier and junior producers come to Mines & Money this year', says the event's head of content Andrew Thake. ''We're seeing the up and coming Australian mid-tiers coming along -including the likes of Oceana Gold...

1 hour, 34 minutes ago

2 min read