Nagambie Resources, Units Enter Increased Loan Facility Agreement

MT Newswires Live

Mar 06

Nagambie Resources (ASX:NAG) and its units, Nagambie Developments and Nagambie Landfill, entered into an increased loan facility agreement with PPT Nominees, according to a Thursday filing with the Australian bourse.

The new agreement raises the available funding to AU$3 million from AU$2 million, the filing said.

The additional funding will support the company's antimony-gold resource drilling program at the Nagambie Mine in Victoria, Australia and provide working capital as needed, the filing added.

The facility will remain available until September 2025, with the interest set at 10% per annum on the outstanding balance, the company said.

The company and its units have granted security over their assets to PPT, with repayments set to occur at any time without penalty.

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