Unicorn Mineral Resources Plc (UMR.L) has drawn down £1.25 million from an unsecured loan facility arranged with Electro Automation (Group) Limited, the company announced on September 17, 2026.
The facility, first disclosed on August 17, 2026, requires no security over the company’s assets. Electro Automation is controlled by chairman Paddy Doherty.
The proceeds will fund completion of the company’s acquisition of the Klein Aub copper mine in Namibia, along with initial development activities there, technical and metallurgical work, and establishing an operational presence in the country. General working capital for operations in both Namibia and Ireland will also be supported.
Klein Aub represents Unicorn Mineral Resources’ principal development opportunity. The project involves historical mine workings, mineralized material, and associated tailings, with the aim of establishing a copper mining and processing operation.
Chief financial officer John O’Connor said the immediate priority following signing of the Klein Aub acquisition documentation was to progress the transaction and put in place the planned technical, operational, and management resources required to advance the project.
