Vertex Minerals announces financing

Vertex Minerals (ASX:VTX) has secured a $5.1 million convertible loan to commence production at its Reward Gold Mine. The funds, obtained from institutional and sophisticated investors, will support the completion of necessary infrastructure and development at the site. The loan features a 2-year term and a 10% interest rate.

Vertex Minerals strategic outlook

Vertex Minerals (ASX:VTX) has announced a $5.1 million convertible loan to fund the development of its Reward Gold Mine. The funds will be used to complete the gold plant and infrastructure, as well as for underground mine development and sustaining costs. The loan is convertible to shares at $0.17 each, with a 2-year term and 10% interest rate. Investors converting within the first six months receive additional incentives. The company is focused on ethical and environmentally friendly mining practices, with ambitions to start processing early next year. Vertex Minerals continues to develop its portfolio of projects in New South Wales and Western Australia, with significant mineral resources across its sites.

Executive insights on financing

The company aims to start processing gold stockpiles and underground mining early next year.