(Alliance News) - Australian minerals firm Aura Energy Ltd on Monday said it has entered into an agreement to modify a convertible loan agreement with investment management company.
The agreement means Aura has secured an advance of AUD350,000, roughly GBP183,893.
Aura said: "With the company having implemented a significant cost cutting programme the monies raised will provide the company will working capital as the company continues to advance corporate opportunities around its exploration and development assets."
The firm is eyeing further development work at its Tiris uranium project in Mauritania and the Haggan vanadium asset in Sweden.
Aura added: "The company appreciates the continuing finance support shown by Lind and remains confident of progress on these various initiatives."
Shares in the company were 4.6% higher at 0.34 pence each in London on Monday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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Aura Egy (AURA)