Strandline Resources (ASX:STA) secured AU$5 million in advanced funding from the Northern Australian Infrastructure Facility (NAIF), according to a Monday filing with the Australian bourse.
The advance funding sourced from the existing debt facility will bridge the mining firm as it restructures into a longer-term facility in February 2025, the filing said.
The latest advance by NAIF will be granted a super senior position over the facilities of other secured creditors, as per the filing.
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