Aura Energy secures more cash as it progresses work on several fronts
Aura Energy has entered into a deed of variation with Lind Global Macro Fund to modify the convertible loan note agreement dated 30 April, it announced on Monday, in order to secure an advance of AUD 0.35m (£0.18m) pursuant to a convertible note with a face value of AUD 0.42m.
The AIM-traded firm said that, with it having implemented a “significant” cost cutting programme, the monies raised would provide it will working capital as it continued to advance corporate opportunities around its exploration and development assets.
It said the various initiatives which remained underway included discussions for investment into Aura's gold assets, and a continuation of the Export Credit Agency finance process for Tiris development funding.
The firm also said it was focussing on further optimisation of the Häggån Scoping Study before final release, as well as progression of the compensation claim from the Swedish Government for the Häggån Uranium Project.
“The company appreciates the continuing finance support shown by Lind and remains confident of progress on these various initiatives,” the Aura Energy board said in its statement.
At 1029 GMT, shares in Aura Energy were up 4.58% at 0.34p.