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An announcement from Emu NL ( (AU:EMU) ) is now available.
Emu NL has secured a loan facility with Northmead Holdings Pty Ltd, a significant shareholder, to fund exploration of its Yataga Project in Queensland and support working capital. The loan, amounting to $500,000, is to be repaid by November 2025, with an interest rate of 15% per annum, provided there is no default. The agreement includes an equity-based commitment fee and allows for potential conversion of the loan to equity under certain conditions. The loan is secured against the company’s Badja Project assets in Western Australia, indicating a strategic move to bolster its exploration activities and financial stability.
More about Emu NL
Average Trading Volume: 237,043
Technical Sentiment Signal: Sell
Current Market Cap: A$5.91M
See more data about EMU stock on TipRanks’ Stock Analysis page.