Here is my initial 2cThese two points are concerning as it...

Here is my initial 2c

These two points are concerning as it suggests they're really struggling for money, and without the loan they would most likely be insolvent.

- Meet costs associated with MRC’s proposed divestment of its Tomin mineral sands mine
- Pay corporate expenses and provide general working capital

The fact that they've had to waive ASX listing rule 10.1 to get access to the cash immediately without shareholder approval is also a concern (they have to repay it within 20 days if the shareholders don't eventually approve).

Au Mining has 1st ranking security over MRC's assets which to me sounds like Au Mining have essentially just secured Skaland and Munglinup for $4m as repayment of the loan would appear a stretch.