Futura Financing and Potential Transaction | Company Announcement | Investegate
Summary
IRH is a mine-to-market company headquartered in Abu Dhabi, United Arab Emirates, that invests in diverse metals and minerals and operates across the entire mining value chain. This transaction does not affect the Companys 1.5% Gross Revenue Royalty over production from Futuras mines.Following a A$30 million financing package in September 2023, Futura successfully commissioned its Wilton open pit mine in Queensland, Australia with first coal delivered to the Gregory Crinum wash plant in February 2024. Futura moved on to the Fairhill property in December 2024, and first coal was mined in April 2025, and the first shipment to the Gregory Crinum wash plant made in May 2025. This has put considerable financial strain on the entire metallurgical coal industry to which Futura is not immune, particularly during its ramp up stage. Futura has, therefore, sought additional working capital whilst Fairhill moves towards full production.Despite heightened uncertainty in commodity markets resulting from the trade tariff war, the Futura management team views the current weakness in the coking coal market as a short-term setback.