Premier African Minerals Limited (LON:PREM) has raised US$350,000 via a convertible loan note with Regent Mercantile.
The annual interest rate is 10% per annum with the money to be advanced in one payment.
The loan is secured on 350,000 shares in Circum Minerals held by Premier.
George Roach, chief executive, said: "Premier is pleased to have received this offer of support in this form from an independent source who first invested and supported Premier at its original listing.
“I have remarked on the need for our company to plan for alternative support and to look for further diversification of risk and I do expect this to be one of several key developments in the immediate future."