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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.