New $2 Million Cash Advance Facility
| Stock | Altamin Ltd (AZI.ASX) |
|---|---|
| Release Time | 6 Aug 2026, 5:49 p.m. |
| Price Sensitive | Yes |
Altamin Secures $2M Cash Advance Facility with VSG
- New $2 million unsecured Cash Advance Facility with Victor Smorgon Group (VSG)
- Funds will support Lazio and Gorno Projects and general corporate purposes
- Avoids equity dilution, ensures key initiatives can progress
Altamin Limited (ASX: AZI) has secured a new $2 million unsecured Cash Advance Facility with Vilo Finance Pty. Limited, an entity controlled by major shareholder Victor Smorgon Group (VSG). The facility, with an option to increase by up to $1 million, will support the advancement and maintenance of Altamin's Lazio and Gorno Projects, as well as its general corporate purposes and working capital requirements. This non-dilutive funding source will help Altamin secure long-term access and surface rights in the Cesano geothermal area, which is critical for the proposed processing plant and logistics infrastructure. CEO Geraint Harris highlighted the importance of this funding in achieving key project milestones and delivering shareholder value.
No specific financial guidance provided in the announcement.
Altamin looks forward to finalizing the Scoping Study and land arrangements for the Lazio Project, which are key development steps.