An update from Nagambie Resources Limited ( (AU:NAG) ) is now available.
Nagambie Resources Limited has secured an increased loan facility of $3.0 million from PPT Nominees Pty Ltd, up from the previous $2.0 million. This additional funding will support the company’s antimony-gold resource drilling program at the Nagambie Mine and enhance its working capital. The decision to expand the loan facility was deemed the most commercially beneficial option compared to equity funding or third-party loans. The loan terms include a 10% annual interest rate, security over company assets, and the ability to repay without penalty. The ASX has granted a waiver allowing Nagambie to secure its obligations without shareholder approval.
More about Nagambie Resources Limited
Nagambie Resources Limited operates in the mining industry, focusing primarily on the exploration and development of antimony-gold resources. The company is based in Australia and is involved in activities through its subsidiaries, Nagambie Developments Pty Ltd and Nagambie Landfill Pty Ltd.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €7.57M
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