Eurasia Mining plc (LON:EUA) now has £700,000 available for working capital after it struck a loan deal with a syndicate led by Sanderson Capital.
The cash can be drawn down at any time from now until the end of this year and £100,000 has already been drawn down, the firm said.
The loan must be repaid by January 28 next year.
The money can be drawn down in five £100,000 tranches not less than 30 days apart and a final tranche of £200,000 on agreement with Sanderson.
An arrangement fee of £145,000 will be satisfied by the group issuing over 26mln shares at 0.55p each.
Last week, the group revealed it had agreed a refining contract for its West Kytlim alluvial platinum project in the Urals, Russia.
Ekaterinburg Non-ferrous Metals Processing Plant (EZOCM), part of the Renova Group, will both process black sand concentrates from West Kytlim and buy the bullion produced.
Platinum refining will cost of 2.75%, payable by Eurasia, while gold refining costs will be 5.5%.