THE nation's only maker of soda ash and bicarbonate, Penrice Soda Holdings, has secured another $4 million from its bankers.
The company is also confident an increase in the construction aggregates resource at its marble and limestone mine at Angaston could make the mine more saleable and thus reduce its debt pile.
In a market update yesterday, the Adelaide-based Penrice reiterated its previous guidance that it expects to make a loss in 2011-12 and that its second-half performance will be stronger than the first.
"To announce no more bad news is certainly a positive for Penrice in the current environment," chief executive Guy Roberts said.
The company's banking syndicate has agreed to an increase of $4m in its short-term loan facilities.
The company's drawn-down term bank debt now stands at $93.8m. Its share price fell below 8c last week, down from above 15c last November.
The Australian
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