Globe Metals & Mining Limited (AU:GBE) has released an update.
Globe Metals & Mining Limited has formalized a revised A$2.3 million loan facility with Director Bo Tan, enhancing the company’s short-term financial flexibility without requiring security over the Kanyika mining right. The facility, to be drawn in increments through December 2024, features a 25% annual interest rate, with full repayment due 8 months after initial drawdown. This strategic financial move allows the company to focus on completing its Bankable Feasibility Study and securing off-take agreements.
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