Argonaut acted as Financial Advisor for Paringa Resources Limited (“Paringa”) for its US$56 million Term Loan Facility (“TLF”) with Tribeca Global Resources Credit Pty Ltd (“Tribeca”) (as agent) and Tribeca Global Natural Resources Ltd (ASX:TGF) and the Tribeca Global Natural Resources Credit Funds (as lenders).

The Tribeca TLF is an attractive funding package that provides low overall cost, low shareholder dilution and flexibility in relation to early repayment. Importantly, once the facility is fully drawn Paringa will be funded to commence the expansion of production to 2.8 million tons per annum (“Mtpa”) at Poplar Grove, previously planned to be funded out of free cash flow.

Paringa has drawn the first US$40 million tranche of the TLF. The Company’s existing US$21.7 million debt facility with Macquarie Bank Limited has been repaid in full.

Argonaut is delighted to continue to provide support to Paringa and looks forward to our ongoing work with the company.

Additional information regarding Paringa can be found on the company’s website at www.paringaresources.com