NQ Minerals PLC (AQSE:NQMI)(OTCQB: NQMLF) is to restructure its balance sheet and is in advanced refinancing negotiations with major financial institutions.
In December 2020, the company restructured a debt related to the Hellyer mine in Australia with a US$55mln package.
The company is now pursuing means to follow on from this to restructure its debts with the intent to position NQ as a leading company in its sector with a balance sheet and financing capabilities equivalent to that of its peer group.
The company also confirmed it is on track to provide a quarterly update for its Hellyer operations and cashflows as it usually does in the first weeks following the end of the quarter. In advance of the quarterly update, the company advises that Hellyer continues to operate well.