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Aguia Resources Adjusts Financing Strategy with Loan Arrangement

Story Highlights
  • Aguia Resources will not proceed with convertible notes, opting for a loan instead.
  • The loan is secured against Andean Mining shares and includes potential share conversion.
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Aguia Resources Adjusts Financing Strategy with Loan Arrangement

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Aguia Resources Limited ( (AU:AGR) ) just unveiled an update.

Aguia Resources Limited has announced that its proposed issue of convertible notes will not proceed. Instead, the funds received will be treated as a loan with a 10% annual interest rate, repayable in cash or shares, subject to shareholder approval. The loan is secured against shares in Andean Mining Limited, and the company plans to issue unlisted options to lenders, contingent on shareholder approval. This decision reflects Aguia’s strategic financial management and could impact its liquidity and shareholder relations.

More about Aguia Resources Limited

Aguia Resources Limited is a company operating in the resources sector, focusing on mining operations. The company is involved in various projects, including those in Colombia, and is listed on the Australian Securities Exchange (ASX) under the ticker AGR.

Average Trading Volume: 1,887,964

Technical Sentiment Signal: Sell

Current Market Cap: A$42.9M

For a thorough assessment of AGR stock, go to TipRanks’ Stock Analysis page.

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