Brynecut backs WPG 'at a price'

WPG Resources has reduced guidance and borrowed A$20 million from mining contractor Byrnecut for its Challenger gold mine in South Australia, with the secured loan having an interest rate of about 20%.

Brynecut backs WPG 'at a price' Brynecut backs WPG 'at a price' Brynecut backs WPG 'at a price' Brynecut backs WPG 'at a price' Brynecut backs WPG 'at a price'

According to WPG, the funding is “necessary for continuation of operations at Challenger”, and will allow for a focus on “longer term mine planning and development”.