Lunnon Metals Secures AU$6 Million Term Loan Facility; Shares Up 5%
MT Newswires Live
Feb 16
Lunnon Metals (ASX:LM8) said it has entered into an agreement for a AU$6 million secured term loan facility with Bedrock Alpha Credit Income Fund, according to a Monday Australian bourse filing.
The company will use the funds for general working capital requirements, including pre-production costs and site establishment expenses for the Lady Herial Project in Western Australia.
The company said the facility will ensure it has sufficient liquidity and working capital before receiving payments under the ore purchase agreement, which will start upon the delivery of the first ore to St Ives Gold Mining, scheduled for later in February.
The company's shares rose past 5% in recent Monday trade.
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