Ann: Sale of Lithium and Base Metal Rights for up to $60M, page-8

Hi Forb, sadly, as I understand it, they cannot pay down any of the loan until March 2024.
This is from an earlier post I did discussing the debt/repayments. The top part is from an old preso, the new info about the repayments is just below.



That being said, I am still very pleased to see PNR able to garner some value from what I can only assume, the market valued at Zero.
$30m upfront is a great outcome, though I think on balance, OBMs recent deal with Wesfarmers was better with them holding onto 35% with a carry, but less cash payments. The royalty on the Lithium is also lower, but good to have the base metals royalty, which could be worth something into the future too.

Cash position is soon to be approx $65m, with, as others point out, still the sale of Halls Creek (anything close to $10m would be a great outcome IMHO).

This big injection of cash hopefully means... dare I say it, as this in PNR, no further raisings.... this might even mean PNR can finally start undertaking some small targeted drilling campaigns, as Norseman is crying out for really exploration!

Hopefully PNR will also be in the position to fully pay out the debt within the next 18 months, and remove what is clearly a major impediment to their valuation compared to their peers.

For those interested, here is OBMs recent deal. I think overall, it just shows that having a strong MD and being in a better position financially, gives you more leverage when making deals (no surprises there, but... here is a good example of it actually happening).



Above all though, PNR will truly only fly when it produces free cashflow (or a T/O offer).