The offer of financial support essentially replicates a similar arrangement struck between the parties 12 months ago.
Nick Mather’s DGR will kick in up to $500,000 to enable Navaho to continue to meet all of its project and corporate expenses, with the loan payable within a year or after any successful capital raising.
The funding arrangement will be unsecured but attract interest at the rate charged by the bankers for Navaho on any overdraft accommodation for an amount of $100,000 or more, and will be capitalised and only repayable when repaid.
