They don't need much cash as current drilling campaign is paid for in shares.
The loan has just been announced to keep them going so they can raise in the future at higher levels. They won't be doing a CR off this announcement.
News to come on SMART program to get into production for approx $5mill CAPEX. Also drilling of an interesting prospect called Saturn about 1km from the old pit to come soon.
Ann: 27 METRES @ 3.4% COPPER IN HORSESHOE LIGHTS DRILLING, page-49
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