Alkane Resources (ASX:ALK) is approved for up to $150 million of funding for its gold and antimony projects.
Macquarie Bank (ASX:MQG), Westpac Banking Corporation, Commonwealth Bank of Australia (ASX:CBA), and the Australia and New Zealand Banking Group (ASX:ANZ) agree to provide a $110 million revolving credit facility. A further $40 million is available through a contingent instrument facility.
The syndicated facilities’ agreement is valid for three years. There is potential to extend the deal twice by an additional 12 months, depending on lender approval and a minimum of six months’ notice.
Alkane previously repaid a $45 million project finance facility earlier than expected in August 2025.
The latest funds are promised to provide extra flexibility, liquidity, and broader banking relationships.
“New facilities allow us to broaden our relationships with tier-one banks and provide additional liquidity to move quickly on emerging opportunities,” Managing Director and CEO Nic Earner says.
“The contingent instrument facility will provide up to $40 million of cash returned to the business that is currently used for backing performance guarantees across the group’s operations.”
Alkane appointed Bedrock Credit Partners and Gilbert + Tobin acted as financial and legal advisors respectively.
Alkane Resources produces gold and antimony with assets in both Australia and Sweden.
Write to Richard Szabo at Mining.com.au
Images: Alkane Resources
