ActivEX Clears Loan Debt Through Transfer of Non-Core ESK Project.
ActivEX Limited (ASX: AIV) announced that it has reached an agreement with Star Diamond Developments Limited to fully repay the outstanding amount under its unsecured loan facility. The repayment covers all remaining loans and accrued interest totaling approximately AU$2.3 million from the original AU$5 million facility. Instead of a cash payment, the company will settle the obligation by transferring 100% equity ownership of East Coast Gold and Copper Pty Ltd (ECGC) to Star Diamond. ECGC is a wholly owned subsidiary of ActivEX and holds the ESK Copper and Gold Project, which includes four exploration tenements covering about 290.8 square kilometres. The project contains several high-priority porphyry copper and epithermal gold exploration targets but has seen limited exploration activity recently as it is considered a non-core asset. Following the completion of this transaction, the loan facility will be fully discharged and terminated, leaving ActivEX completely free of loan debt and improving the company’s balance sheet strength and overall financial position.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
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ActivEX Clears Loan Debt Through Transfer of Non-Core ESK Project.
ActivEX Limited (ASX: AIV) announced that it has reached an agreement with Star Diamond Developments Limited to fully repay the outstanding amount under its unsecured loan facility. The repayment covers all remaining loans and accrued interest totaling approximately AU$2.3 million from the original AU$5 million facility. Instead of a cash payment, the company will settle the obligation by transferring 100% equity ownership of East Coast Gold and Copper Pty Ltd (ECGC) to Star Diamond. ECGC is a wholly owned subsidiary of ActivEX and holds the ESK Copper and Gold Project, which includes four exploration tenements covering about 290.8 square kilometres. The project contains several high-priority porphyry copper and epithermal gold exploration targets but has seen limited exploration activity recently as it is considered a non-core asset. Following the completion of this transaction, the loan facility will be fully discharged and terminated, leaving ActivEX completely free of loan debt and improving the company’s balance sheet strength and overall financial position.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au