- Nickel producer Western Areas (WSA) has recharged its bank facilities after securing a $75 million credit arrangement from a major Australian bank
- Should the revolving credit facility go ahead, it set to grant the explorer further financial freedoms to develop its Odysseus mine in Western Australia
- WSA says the facility builds on its significant cash reserves, strong balance sheet and cashflows from existing operations
- Statutory accounts from August 2020 report the company has roughly $144.8 million sitting in cash
- Repayment for the loan expected via lump sums or, bullet at maturity, however, full details should expected once the full facility agreement completed in early 2021
- Investors have responded positively to the news, with WSA shares trading up 2.22 per cent at $2.54 each
