LONDON (Alliance News) - Uranium Resources PLC Monday said it has entered into a further USD300,000 loan facility agreement with its major shareholder and strategic investor Estes Ltd.
The uranium exploration and development company operating in Tanzania said the unsecured loan is available for the period until January 1, 2015, bears interest at LIBOR, and will be used to fund working capital requirements.
The loan is in addition to a USD1 million facility entered into on March 26, 2013.
The company is currently finalising its 2014 exploration programme which targets an expansion of the maiden resource of its flagship Mtonya uranium project.
Uranium Resources shares were untraded Monday. They were quoted at 1.17 pence last week.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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