Investor ASF Group (ASX:AFA) will provide $1 million in standby funding to mining company ActivEX (ASX:AIV) in a loan facility agreement.
The funding will be used for ActivEX’s (ASX:AIV) exploration activities and general working capital.
Interest will accrue at 12 per cent per annum with repayment of the loan due a year from now on 13 November 2018.
ASF has an investment of close to 20 per cent in the issued share capital of ActivEX (ASX:AIV).
ActivEX, a Brisbane-based gold and copper explorer, has mining projects underway in North Queensland.
Shares in ASF Group (ASX:AFA) closed 17.86 per cent higher to 16.5 cents a share.