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  • TerraCom (TER) is on track to deliver 640,000 tonnes from the Blair Athol coal mine in Queensland for the June 2022 quarter
  • The company said it is set to achieve coal sales of 2.3 million tonnes in FY22
  • Blair Athol’s earnings before interest, taxes, depreciation and amortisation (EBITDA), at the current coal prices, is expected to be around $180 million for the June quarter
  • Chairman Craig Ransley said he is looking forward to being able to recommence dividend to shareholders, following a strong financial performance
  • The dividend is expected to be an initial unfranked dividend of 10 cents per share
  • TER shares were up 2.44 per cent and trading at 80.5 cents per share at 1:33 pm AEST

TerraCom (TER) is on track to deliver 640,000 tonnes from the Blair Athol coal mine in Queensland for the June 2022 quarter.

The company said it is set to achieve coal sales of 2.3 million tonnes in FY22.

Blair Athol’s earnings before interest, taxes, depreciation and amortisation (EBITDA), at the current coal prices, is expected to be around $180 million for the June quarter.

Meanwhile, full-year operating EBITDA attributable to TerraCom is expected to be about $423 million.

Additionally, in 2019, the company issued a convertible bond to Madison Pacific Trust, with initial noteholder being OCP Asia, in the amount of US$20 million (A$).

OCP Asia has given notice to the company that it will convert the full amount of the bond into TerraCom shares.

TerraCom will issue nearly 49 million shares to OCP Asia, which represents about five per cent of total shares on issue.

Chairman Craig Ransley said he is looking forward to being able to recommence dividend to shareholders, following a strong financial performance.

“Based on forecast, the first dividend to be returned to shareholders is expected to be
declared for the period ending 30 June 2022 and estimated to be paid during
September 2022,” he said.

“The dividend is forecast to be an initial unfranked dividend of 10 cents per share.”

On the market, TER shares were up 2.44 per cent and trading at 80.5 cents per share at 1:33 pm AEST.

TER by the numbers
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