CA - Yangarra Resources: Paydown Of Bank Debt Begins

2024-05-01 18:39:57 ET

Summary

• Yangarra Resources Ltd. aims to reduce its bank debt to C$80 million, with a C$9.5 million decline in net debt in Q1.
• The company plans to resume drilling in June.
• The pandemic disrupted the company's transition to an operating company.
• Management has initiated bringing some tasks "in-house" that has led to lower costs.
• There could be more free cash flow for debt payment in the second quarter due to the Spring Breakup.

Management of Yangarra Resources Ltd. ( OTCPK:YGRAF ) has stated that there is a goal to get the bank debt down to C$80 million. This is a Canadian company that reports in Canadian dollars unless otherwise noted. The bank debt did indeed decline in the just-reported first quarter , as net debt declined about C$9.5 million....

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