Minerals 260 Secures $410m Debt Commitments for Bullabulling

Minerals 260 (ASX:MI6) has signed credit approved commitments with ANZ, NAB and Societe Generale for $410 million in debt facilities, which it says, with royalty funding and its recent equity raising, fully fund the Bullabulling Gold Project to first production.

The facilities comprise a $335 million Project Finance Facility, a 7-year amortising facility with a bullet repayment at maturity, and a $75 million Working Capital Facility with a 4-year term. Interest is BBSY plus a fixed margin of less than 3% and will be capitalised during the construction period, and there are no mandatory gold price, foreign exchange or diesel price hedging requirements. The other funding sources named are royalty funding by Franco-Nevada and proceeds from the recent equity raising. The commitments are based on the Project's Pre-Feasibility Study. Bullabulling, 65km from Kalgoorlie in Western Australia, hosts a Mineral Resource Estimate of 190Mt @ 1.0g/t Au for 6.2Moz of gold.

Financial close, expected in Q1 CY2027, depends on conditions precedent including long-form documents, completion of the DFS, final due diligence and an intercreditor deed with Franco-Nevada. The Final Investment Decision has not been taken and is targeted for Q1 CY2027, with first draw down expected at the end of CY2027. The release does not state the project's capital cost.