And they have to repay the $900,000.00 over 2 years (“on a best of endeavors basis”
Quote - “The previous loan agreement to Cervantes has now been amended in return for waiving all fees and rights, to a $900,000 loan repayable over 2 years interest free, amended from one year to two years on a best of endeavours basis.
Cervantes expects to repay this loan earlier
as a result of exceptional drill results from one of their gold projects which they released to the ASX on the 28 June 2018 announcing significant intersections of; 2m @ 67.2 g/t from 27m in AHP116, incl 1m @ 129.3 g/t from 27m and 5m @ 63.1 g/t from 32m in AHP134, incl 1m @ 202.8 g/t from 33m at their Albury Heath project in Meekatharra. This project is only one of three strategic gold projects it controls 100% of, and provides comfort for the Baraka loan.”
