MTAL MAC Copper Limited

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

 

Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934

 

For the month of	December		2024
Commission File Number	001-41722

 

MAC COPPER LIMITED

(Translation of registrant’s name into English)

3rd Floor, 44 Esplanade St. Helier, Jersey, JE4 9WG Tel: +(817) 698-9901

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F

x

Form 40-F

¨

 

 

Incorporation By Reference

 

This Report on Form 6-K, including all exhibits hereto, shall be deemed to be incorporated by reference into the registration statement on Form F-3 (Registration No. 333-276216) (including any prospectuses forming a part of such registration statement) and to be a part thereof from the date on which this report is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.

 

 

EXHIBIT INDEX

 

Exhibit	Description of Exhibit
99.1	Press Release of MAC Copper Limited dated December 17, 2024.

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

			METALS ACQUISITION LIMITED
			(Registrant)
Date:	December 17, 2024		By:	/s/ Michael James McMullen
				Name:	Michael James McMullen
				Title:	Chief Executive Officer

 

 

Exhibit 99.1

 

 

17 December 2024

 

MAC Copper Limited and Sprott Amend Loan Agreement to Permit Early Repayment

 

ST. HELIER, Jersey – (BUSINESS WIRE) – MAC Copper Limited ARBN 671 963 198 (NYSE:MTAL; ASX:MAC)

 

MAC Copper Limited (“MAC” or the “Company”) is pleased to announce that it has agreed amendments with Sprott Private Resource Lending II (Collector-2), LP ("Sprott") to its mezzanine debt facility, enabling the option for early repayment (“Amendment Deed”).

 

Under the terms of the Amendment Deed, MAC now has the option, but not the obligation, to repay the mezzanine loan in full between 1 January 2025 and 16 June 2025 (being the previous first repayment date).

 

Commenting on the Amendment Deed, MAC CEO, Mick McMullen, said:

 

“We are pleased to have reached this agreement with Sprott, which provides MAC with greater financial flexibility as we continue to optimize our capital structure. We would like to thank Sprott for their partnership and the support they provided at the time we acquired the CSA Copper Mine in June 2023. This amendment underscores our commitment to the ongoing simplification and de-leveraging of our balance sheet, driven by the Company’s robust operational performance and disciplined financial management.”

 

The Amendment Deed has received consent from all of MAC’s secured financiers, including Senior Lenders (as Senior Debt Providers), Osisko Bermuda Limited (as Silver and Copper Streamer), and Glencore (as NSR Royalty Holder). A further consent from Senior Lenders will be required at the time MAC elects to exercise its early repayment option.

 

If MAC chooses to repay the facility early, it will be required to pay:

 

·

The full principal outstanding, including all capitalized interest (as of 31 October 2024, the outstanding principal was US$145,338,650);

 

·

A prepayment interest premium of 4% on the aggregate principal;

 

·

All remaining cash interest payments that would otherwise have been payable between 1 January 2025 and 16 June 2025; and

 

·

Sprott’s legal expenses, as stipulated in the mezzanine facility agreement.

 

The above would have been the same if no early repayment option was agreed to, other than interest would be paid on a quarterly basis in arrears.

 

The Company will make a decision regarding early repayment based on its cash balance and financial forecasts in H1 2025.

 

– Ends –

 

This announcement has been authorised for release by Chris Rosario and Trevor Hart, Joint Company Secretaries.

 

Contacts

 

Mick McMullen Chief Executive Officer & Director MAC Copper Limited investors@metalsacqcorp.com

Morné Engelbrecht Chief Financial Officer MAC Copper Limited

 

About MAC Copper Limited

 

MAC Copper Limited (NYSE:MTAL; ASX:MAC) is a company focused on operating and acquiring metals and mining businesses in high quality, stable jurisdictions that are critical in the electrification and decarbonization of the global economy.

 

	MAC Copper Limited maccopperlimited.com	3rd Floor, 44 Esplanade, St Helier, Jersey, JE4	Page 1

 

 

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