Stavely Minerals Limited (SVY), an ASX-listed company focused on discovering and developing copper and gold resources, has announced the execution of a $500,000 unsecured director loan facility. The company said the facility provides it with non-dilutive cashflow flexibility as it progresses its 2026 Scoping Study for copper, gold, and silver production from Thursday’s Gossan and the high-grade Cayley Lode.
The loan facility comprises two loans of up to $250,000 each, originating from entities associated with non-executive Director, Mr. Peter Ironside. The funds will be drawn down as required and allocated to advancing the aforementioned scoping study. According to Stavely Minerals, the loan facility agreement with Peter Ironside is on commercial, arm’s length terms.
Key terms of the loan include an interest rate of 7.5% per annum and a 12-month term. The loan is unsecured and ranks pari passu with other unsecured creditors. Stavely Minerals retains the discretion to draw down the funds.
Chris Cairns, Executive Chair and Managing Director of Stavely Minerals, stated that the loan represents a significant vote of confidence in the company. He added that it allows Stavely Minerals non-dilutive cashflow flexibility while progressing the 2026 Scoping Study, with expectations of a strongly positive outcome supporting circa 20,000 tonnes per annum of copper-equivalent production for over 10 years.
