A A$10-million loan agreement to fund the development of the Mt Coolon gold project, in Queensland, has been terminated, ASX-listed GBM Resources has reported, sinking a merger opportunity with a Canadian junior.
The company in October last year entered into the loan agreement with UK-based National Federal Capital (NFC), which had been scheduled to pay a first tranche of A$5-million by November 21, and a second tranche by the end of February.
