OAR Resources Ltd (AU:OAR) has released an update.
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Oar Resources Limited has secured a $750,000 short-term unsecured loan to bolster its exploration activities in uranium-rich regions of Brazil and Namibia. This funding aims to provide the company with immediate working capital while also evaluating new growth opportunities to enhance shareholder value. The loan, arranged with Corporate Mining Pty Ltd, is expected to be drawn down by October 2024, with a 1% monthly interest rate payable at maturity.
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