Central African Gold has agreed a $1m loan with its two largest shareholders, ECP Africa Fund II PCC and HBD Zim Investments which together hold 78.2% of the issued share capital.
ECP will provide just over $705,000 and HBD just over $302,700.
The loans carry interest at 10% per annum, compounded monthly in arrears.
Central African Gold says it is also in the process of agreeing a new loan agreement with Investec Asset Management.
