Australian Pacific Coal Limited (ASX:AQC) Releases Quarterly Activities Report
Production Milestones
Australian Pacific Coal reported the first rail of unwashed commercial coal to a domestic utility. Production and stockpiling are increasing with two continuous miners operational by year-end and a third system expected in the March quarter.
Financial Developments
The Dartbrook Joint Venture drew US$21.75 million from the upsized US$90 million Senior Debt Facility, bringing total funds drawn to US$84.7 million. The company held $15.5 million in cash at the group level and $2.6 million net to AQC.
Safety and Environmental Performance
The company reported a TRIFR of 14.4 as of 31 December 2024, with six recordable injuries, including one lost time injury. There were zero environmental incidents during the period.
Future Plans
A refurbishment program for the wash plant has commenced, targeting completion in the first half of CY2025. The company has submitted for a six-year operating period extension through December 2033.
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