Moab Minerals lands $243,000 convertible loan from Vert Capital
What's the deal? Moab MineralsDealroom has a profile for this one. Try Dealroom → (ASX:MOM) has entered a binding convertible loan agreement with Vert Capital Pty LtdDealroom has a profile for this one. Try Dealroom → to raise US$226.5K (≈$243,000). The company advises the facility will fund working capital and the evaluation of potential project acquisitions.
The terms: The loan is unsecured and carries 8% annual interest, accrued monthly on a compounding basis. It converts to shares at a 50% discount to the issue price of Moab's next placement or rights issue, subject to a minimum conversion price of $0.0005 per share.
Why now? Managing director Malcolm Day said the funding gives Moab additional working capital as it advances the Manyoni Uranium Project in Tanzania and assesses new acquisitions, "with a particular focus on gold and energy metals opportunities in Africa and Western Australia."
What's the endgame? Conversion depends on shareholder approval under ASX Listing Rules, which Moab intends to seek at its annual general meeting on November 30, 2026. If approved, the loan and accrued interest will convert into fully paid ordinary shares.
What could go wrong? If shareholders do not approve the conversion within three months of the agreement, Moab must repay the loan plus interest in cash within six months thereafter.
The signal: The raise is small — it lands near the bottom quartile for deal size — reflecting a modest working-capital top-up rather than a transformational round. For a junior explorer, the convertible structure defers cash pressure while keeping the door open for acquisition opportunities.
Read more: listcorp.com
Image credit: Generated with Gemini
