Carawine Resources (ASX:CWX) entered into an unsecured loan facility agreement with its major shareholder, QGold, for AU$1.7 million, according to a Thursday filing with the Australian bourse.
The loan has a term of 18 months after the first drawdown, with a fixed interest rate of 10% per annum, payable at the end of the term, the filing said.
The proceeds will fund the completion of a heritage survey at the Paterson project in Western Australia and maintain exploration project tenure, staffing, and support activities until September, per the filing.
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