v3.26.1
Subsequent Events
 6 Months Ended
Jun. 30, 2026
Subsequent Events [Abstract]  
Subsequent Events
20.
Subsequent
Events
Glencore
Prepayment Agreements
On August
7, 2026, subsidiaries
of
the Company entered
into
two
concurrent
offtake
agreements with Glencore,
under which
Glencore agreed
to
advance prepayments
of
up to
$
75.0
million
in aggregate.
●
The prepayments
bear interest at
14
%
per annum on
the outstanding
balance.
●
The
term
is
twelve months
, over
which
the prepayments
are
reimbursed
by
applying
the value
of
coal
delivered
against
the outstanding
balance
in accordance
with a
contractual
schedule
that
reduces
the
permitted
balances
to
nil by the
end
of
the term. Any
amount
outstanding
at
final maturity
is payable
in
cash.
●
Failure to meet minimum
delivery quantities or the
reimbursement
schedule
within specified
cure periods
is an event of default, upon which
the outstanding balance and
accrued interest become
payable in cash.
●
The agreements
contain
undertakings
customary
for arrangements
of
this type,
including restrictions
on
the incurrence of
indebtedness,
on disposals of coal and of assets in
coal production,
and on
the payment
of
dividends
while an event of
default
is continuing.