(Sharecast News) - Pathfinder Minerals announced on Thursday that an unnamed, 'FCA authorised' financial institution has arranged an unsecured loan facility of up to £0.12m for its working capital.
The AIM-traded firm said the loan would carry a simple fixed interest of 5.0% on any amounts drawn down.
"The loan is designed to provide the company with access to additional working capital, should it be required, during the period of the option agreement, and is repayable in full together with accrued interest on 2 February 2023, unless extended by mutual agreement," the board said in its statement.
At 1612 BST, shares in Pathfinder Minerals were up 29.71% at 0.68p.
Reporting by Josh White at Sharecast.com.
Pathfinder Minerals (PFP)