In September, SK Networks, a parent entity of SK Networks Resources Australia, which is an existing shareholder of the firm, has also agreed to extend its guarantee of the KEBA facility.

The extension will allow the company to hold discussions with different parties, regarding the refinancing of the facility and future funding of the Baralaba expansion.

The company is currently focusing to expand the Baralaba ultra low-vol PCI coal mine operation in Bowen Basin of central Queensland.

Cockatoo has leased about 550kmĀ² in the area, which is expected to support an expanded 3.5Mtpa Baralaba operation from 2015.