Suvo Strategic Minerals (ASX:SUV) announcement

Suvo Strategic Minerals Limited (ASX:SUV) has successfully secured a 12-month extension on the debt funding of A$1.0 million, previously repayable on 30 November 2024. The loan term period has been extended for a period of six months commencing 1 December 2024, with the pre-payment of interest required in full and calculated at a rate of 10% per annum, being $50,000. A further six months will be available, at Suvo's option, for the subsequent period from 1 June 2025 to 30 November 2025 with the interest rate moving to 11% per annum which would require the pre-payment of interest amounting to $55,000 on or before 1 June 2025. The debt is secured against the Company's non-core land asset, being freehold land it owns at Lal Lal, located in Victoria.

Executive Chairman's commentary

Suvo is pleased to receive a 12-month extension on the debt facility secured against Lal Lal as this will provide us working capital to deploy and support our geopolymer cement and concrete strategy. The continued growth in sales in our kaolin operation means revenues are now more than covering operational costs.

Summary of Suvo Strategic Minerals (ASX:SUV) announcement

Suvo Strategic Minerals Limited (ASX:SUV) has successfully secured a 12-month extension on the debt funding of A$1.0 million, providing the company with working capital to deploy and support its geopolymer cement and concrete strategy. The debt, secured against the Company's non-core land asset, will allow Suvo to continue its growth in sales in the kaolin operation, with revenues now more than covering operational costs. The company is also progressing commercialization of the 'Murdoch Technology', namely Intellectual Property for a geopolymer concrete batching plant and a low carbon geopolymer concrete formulation known as 'Colliecrete', which it licenses under a worldwide and exclusive Intellectual Property License Agreement. Suvo has entered into a binding Joint Development Agreement (JDA) with PERMAcast and is now in the process of incorporating a joint venture entity (SPV Entity) to develop and commercialize low-carbon geopolymer concrete (GPC) products. The company's ambitions include expanding sales of hydrous kaolin produced at its 100% owned Pittong operation and advancing the commercialization of the 'Murdoch Technology' to contribute to the reduction of greenhouse gas emissions in the concrete industry.