Jervois Global advises it has secured from its lender under the Jervois Finland Working Capital Facility a US$24.5 million increase in the limit for the delayed draw term loan, first announced on 9 Sept 2024. This increases the Term Loan limit to US$32.0 million, with US$7.5 million drawn to-date. US$8.0 million of the Term Loan limit increase is available to be drawn in accordance with Jervois' budgetary needs, including [...]
US$2.9 million adjusted EBITDA1 in Q3 2024; resilient performance in context of cyclically weak market conditions, including low cobalt prices. 1,354 mt of cobalt sold in Q3 2024; expected full year guidance of 5,100 to 5,400 mt is unchanged. Strong results from resource extensional drilling at Idaho Cobalt Operations, funded by U.S. Department of Defense Defense Production Act Title III funding, illustrates growth [...]
Jervois Global advises the majority bondholder of the US$100 million 12.5% Idaho Cobalt Operations senior secured bonds and lender under the Jervois Finland Working Capital Facility, has agreed to further waiver extensions under both facilities to 14 Dec 2024, or as extended at the Lender's discretion, or such other date contemplated by a transaction support agreement in relation to a proposed recapitalisation, in [...]
Jervois Global advises the majority bondholder of the US$100 million 12.5% Idaho Cobalt Operations senior secured bonds and lender under the Jervois Finland Working Capital Facility, has agreed to modifications to the JFO Facility, including inter alia, increasing available drawdown headroom to Jervois. In addition, to support Jervois' continuing work with its debt and equity capital providers, and third parties, on [...]
Jervois Global and Holder have agreed to extend the current Waiver and Interest Deferral of the Idaho Cobalt Operations Bonds1 to 6 September 2024 and, until implemented, to forbear remedies associated with financial covenant compliance and extend waivers of the financial covenants and collection account balances for the Jervois Finland Working Capital Facility. The Holder is both the majority bondholder of the US$100 [...]
Jervois Globaland Holder have agreed to extend the current Waiver and Interest Deferral of the Idaho Cobalt Operations Bonds1 to 30 August 2024 and, until implemented, to forbear remedies associated with financial covenant compliance and in addition, implement waivers of the financial covenants and collection account balances for the Jervois Finland Working Capital Facility. The Holder is both the majority bondholder of [...]
Jervois Global ended the June 2024 quarter with US$21.3 million in cash, US$31.9 million in physical cobalt inventories, and total drawn senior debt of US$144.1 million. End of June 2024 cash of US$21.3 million was lower than the previous quarter-end balance of US$26.6 million, with continued focus on reducing cobalt working capital at Jervois Finland partially offsetting ongoing holding costs across Jervois' 100%-owned [...]
Jervois Global is pleased to report results from the first four drillholes as part of its United States Department of Defense Defense Production Act Title III fully refundable extensional drilling program at its Idaho Cobalt Operations' RAM deposit in Idaho, U.S. These drilling results complement those obtained at its 100%-owned Sunshine deposit1,2 under Jervois' US$15 million DoD DPA Title III funding agreement. RAM [...]
Jervois Global advises that the debt under the Secured Working Capital Facility provided by Mercuria Energy Trading S.A. to its 100% owned subsidiary Jervois Finland, has been transferred by Mercuria to the majority bondholder of the Idaho Cobalt Operations US$100 million Senior Secured Bond. The Investor is now the Lender under the Facility. The Facility continues to be secured against the assets and working capital in [...]
Jervois Global has agreed with the majority bondholder of the US$100 million 12.5% Idaho Cobalt Operations senior secured bonds, that the Holder will support an extension of the waiver granted on 9 May 2024 in respect of all financial covenants, originally granted until 20 July 2024 to 20 August 2024 and to agree a waiver of certain potential cross-defaults. The Holder has also agreed to support a deferral of the interest [...]
Jervois Global advises its Executive General Manager - Commercial, Mr. Wayde Yeoman, presented at a United States House of Representatives roundtable in Washington D.C. earlier today. The session was organised by the seven-member Critical Minerals Policy Working Group of the U.S. House Select Committee on the Strategic Competition Between the U.S. and the Chinese Communist Party. Mr. Yeoman presented to the working group [...]
Jervois Global advises that it has entered into a non-binding explorative memorandum of understanding with Global Tungsten & Powders LLC to jointly evaluate GTP making a minority equity investment in Jervois' proposed U.S. cobalt refinery. Jervois has recommenced work on its previously announced and well-advanced bankable feasibility study for a United States cobalt refinery, after pausing activity starting 26 April 2024 [...]
