Lithium miner Altura Mining has secured a A$305-million financing package to strengthen its balance sheet.
The ASX-listed company on Friday told shareholders that it had executed new lending agreements with current lenders to extend the maturity of the existing $161-million loan facility by three years until August 2023, and has completed an equity raise of A$11.2-million through a share placement to institutional and sophisticated investors. Altura last year said there was a risk to its going concern status if it failed to refinance the loan and meet sales and production forecasts.