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- Sihayo Gold (SIH) has secured interim funding from its shareholder, PT Saratoga Investama Sedaya Tbk
- The company agreed to fund US$500,000 (A$695,000) to Sihayo Gold, at an interest rate of 10 per cent per annum
- The new funding follows an interim grant totalling US$1.2 million (A$1.6 million) from the company’s largest shareholder, Provident Minerals, paid in two tranches
- The funding from both shareholders will be used by Sihayo to continue its exploration activities at Hutabargot Julu and optimisation studies on the Sihayo Starter Project
- Sihayo Gold finished the day in the grey at 0.8 cents
Sihayo Gold (SIH) has secured interim funding from a shareholder.
Sihayo Gold is a minerals exploration and development company with gold projects in Indonesia.
PT Saratoga Investama Sedaya Tbk has agreed to fund US$500,000 (A$695,000) to Sihayo Gold, at an interest rate of 10 per cent per annum. The loan will mature on December 1, 2022.
The new funding follows an interim grant totalling US$1.2 million (A$1.6 million) from the company’s largest shareholder, Provident Minerals. This was paid in two tranches, with an interest of 10 per cent per annum.
The funding from both shareholders will be used by Sihayo to continue its exploration activities at Hutabargot Julu and optimisation studies on the Sihayo Starter Project.
The Hutabargot Julu prospect lies at the southern end of the Sihayo Gold Belt, approximately six kilometres southeast of the proposed Sihayo Starter Project site.
Previous data returned from scout drilling and surface sampling results confirmed the potential for both bulk-tonnage stockwork epithermal gold-silver mineralisation and more discrete higher-grade gold-silver vein targets at varying depths over a large zone of anomalous alteration.
Meanwhile, Sihayo said it will continue to explore options for longer-term funding.
Sihayo Gold finished the day in the grey at 0.8 cents.
