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Aquila Resources Limited (ASX:AQA) has entered into a $250 million corporate facility agreement with the NAB and Commonwealth Bank for corporate cash advances.
The funding will be used for ‘’general corporate purposes”, after the divestment process for the Washpool Hard Coking Coal and Avonturr Manganese projects is complete.
Executive chairman Tony Poli said the facilities are unsecured and will help the company continue its aggressive exploration, feasibility and project development programs.
Aquila Resources Limited (ASX:AQA) reported a full year net loss of $64.5 million for 2011.
