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Crescent Gold Limited (TSX:CRA)(ASX:CRE)(FRANKFURT:CRE5)announced that it has signed a A$15 million Secured Loan Facility Agreement.
Crescent Gold Limited (TSX:CRA)(ASX:CRE)(FRANKFURT:CRE5)announced that it has signed a A$15 million Secured Loan Facility Agreement.
The press release is quoted as saying:
The term of the loan is 12 months with a headline interest rate of 10% plus additional fees and payments. The funds will be used for the staged payment of the recently purchased Laverton Extended Joint Venture tenements (1.1 million gold ounces) and the accelerated development of the defined projects within that package, as well as fund development working capital requirements.
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