- Ora Gold (OAU) obtains an unsecured $500,000 loan facility from Ioma to assist with general working capital requirements
- The loan is to be repaid on September 30 next year and will attract an interest rate of seven per cent per annum
- In addition, the parties have modified the terms of the previously agreed secured loan facility, with the maturity date now extended by a year to May 2024
- OAU says the extension will allow it to continue discussions with interested parties for the the proposed development of its Crown prince gold project in WA or its other gold projects in the Abbotts Greenstone Belt
- Shares are trading 9.09 per cent lower at one cent each at 2:05 pm AEST
Ora Gold (OAU) has obtained an unsecured $500,000 loan facility from Ioma to assist with general working capital requirements.
Ioma is associated with one the company’s Directors, Philip Crabb.
The loan is to be repaid on September 30 next year and will attract an interest rate of seven per cent per annum.
In addition, the parties have modified the terms of the previously agreed secured loan facility, with the maturity date now extended by a year to May 2024.
The company said the extension will allow it to continue discussions with interested parties for the the proposed development of its Crown prince gold project in WA or its other gold projects in the Abbotts Greenstone Belt.
Shares were trading 9.09 per cent lower at one cent each at 2:05 pm AEST.