Jabiru Metals finalises $81m funding package

Jabiru Metals Ltd has finalised an $81 million funding package that paves the way for the development of its copper and zinc project in Western Australia.

The final step in committing to the development of the Jaguar Project, located 65 km north of Leonora, was completing the $81 million funding package including both debt and equity components, the company said in a statement.

The final condition precedent for the ANZ debt facility was the provision of the equity contribution which has now been completed, the company said.

The equity funding included a $28 million rights issue which was completed in December.

The debt and equity funding now available to Jabiru fully funds the company through to production at the Jaguar Project including a planned $5 million per year expenditure on exploration.

The company is now in a position to immediately advance the development of the Jaguar Project and the exploration program.