July 21 (Reuters) - Metals X Ltd MLX.AX :
* SUBMITTED TO CITIBANK A PROPOSED STRATEGY TO CURE FINANCIAL COVENANT BREACHES.
* SUBMITTED TO CITIBANK A PROPOSED STRATEGY TO CURE FINANCIAL COVENANT BREACHES
* CITIBANK HAVE ACCEPTED AND AGREED TO PROPOSED CURE STRATEGY.
* STRATEGY AIMS TO PAYOUT CITIBANK FACILITY AGREEMENT IN FULL ON OR BEFORE 3 SEPT BY WAY OF A REFINANCING