Fox gains loan facility
SOCIETE Generale Australia Branch has agreed to provide Fox Resources with a $2 million loan facility to fund its Radio Hill Nickel project.
The funds are available immediately.
Fox Resources managing director Brett Matich said SG had shown strong confidence in the Radio Hill project because it had committed funds ahead of the release of the development study.
That study is currently being audited by Snowdens Mining and the results are to be announced soon.
Fox is on track to begin production by the middle of the year.
The initial mine life is two years with the potential to extend this through a continued exploration and drilling program.
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