Key points
- Neometals Ltd completed a drawdown of A$2.0 million under a standby loan facility.
- Funds will support working-capital requirements and near-term activities.
- Outstanding A$5.0 million from Tranche 2 Placement remains unpaid.
Full summary
Neometals Ltd (ASX: NMT) has completed a drawdown of A$2.0 million from a standby loan facility provided by Coal Holdings Pty Ltd (CHPL). The drawdown funds will support the company's working-capital requirements, including previously announced near-term activities. Following the drawdown, Neometals Ltd has approximately A$2.7 million in available cash and A$0.5 million in current trade receivables as at 17 September 2026. Additionally, the A$5.0 million from the Tranche 2 Placement subscription proceeds, payable by Omaha Value Holdings, Inc., remains outstanding. The company has called on the personal guarantee provided by Mr. Michael S. Luther for A$2.5 million of those proceeds, but no payment has been received yet.
Outlook
The company continues to engage with Omaha and Mr. Luther to receive the outstanding payment but cannot guarantee when it will be received.