Oar Resources announces new funding

Oar Resources (ASX:OAR) has announced the acquisition of a $750,000 unsecured short-term loan. This funding will provide immediate working capital to support the company's exploration activities in Brazil and Namibia. The loan, facilitated by Corporate Mining Pty Ltd and managed by GBA Capital Pty Ltd, aligns with Oar Resources' growth strategy.

Oar Resources' strategic funding outlook

Oar Resources has secured a $750,000 unsecured short-term loan to support its exploration projects in Brazil and Namibia. The funding, managed by GBA Capital Pty Ltd, will provide the company with the necessary capital to continue its exploration and evaluate new opportunities. The loan, with a term of up to 5 months and an interest rate of 1% per month, will be used to align with the company's growth strategy and maximize shareholder value. Oar Resources continues to focus on its diversified asset portfolio, exploring potential expansion and value unlocking options, including the possible divestment or spin-out of its Oar Graphite Project in South Australia.

Executive commentary on funding initiative