We are pleased to announce that Malabar Resources has achieved a significant milestone with the successful completion of our equity raise, exceeding our target of $160 million by raising $180 million. We deeply appreciate the continued support from our existing shareholders and welcome the new investors who have joined us.
This injection of capital, combined with our existing funding sources, positions Malabar Resources to unlock the full potential of our mine. One of the key initiatives made possible by this funding is the development of a 300m longwall, a significant expansion from the previous 145m. This strategic move is designed to optimise our production capacity, resulting in greater sales with lower operating costs. By enhancing efficiency and output, we are strengthening our business and ensuring consistent returns for our shareholders.
We extend our appreciation to our dedicated team, existing shareholders, and new investors who have demonstrated their confidence in Malabar Resources. Together, we are building a resilient and prosperous future in the mining industry in the Hunter Valley.
To view the presentation click HERE.
