Eurasia Mining plc (LON:EUA) has freed up some more working capital after drawing down a further £100,000 under its loan agreement with Sanderson Capital.
The platinum group metals developer also issued 1.1mln new shares to Sanderson at 0.00875p – worth approximately £10,000 – to cover the drawdown fee.
Eurasia agreed the £700,000 loan back in August and drew down an initial £100,000 straight away.
The money can be taken out in five £100,000 tranches not less than 30 days apart, with a final tranche of £200,000 on agreement with Sanderson.
There is currently £0.5mln still available to Eurasia, while the debt must be repaid by 28 January next year.
The Russia-focused group recently unveiled a massive deal with Chinese major Sinosteel to develop its Monchetundra platinum project on the Finnish border.
Shares closed at 0.72p on Tuesday.