Ann: $1.0 Million Unsecured Loan Facility, page-3

NAG management leading from the front - they are putting their money where their mouths are.
A very confident move by PPT

LOAN FACILITY

Nagambie Resources has accepted a loan facility offer from PPT Nominees Pty Ltd. Loan draw down is subject to the execution of a facility agreement. Principal terms of the loan will be:
• Maximum drawdown of $1.0 million;
• Maximum term of 2 years;
• Interest rate of 10.0% per annum on the drawn amount at any time;
• Interest payable quarterly in arrears; and
• Loan is unsecured.

The loan facility avoids the need for an equity raising and dilution of existing shareholder interests. It also puts the Company in a good position to both negotiate future tenders for large volumes of PASS management associated with major Melbourne infrastructure projects and to enable the progressive development of its other planned revenue streams.

CASH MANAGEMENT Nagambie Resources has carried out significant capital expenditure over the last year to develop the first 2.5 million tonnes of PASS management capacity, advance its gold model for the Nagambie region, and prepare for its other strategic income streams, including establishing initial access infrastructure for its proposed sand mining operation. The board have now determined to reduce all non-essential, discretionary cash expenditure wherever appropriate. As part of those cash conservation measures, the directors will not be paid their director fees until cashflow from operations reaches appropriate levels