OTOC secures $8.2m CBA loan
Mine camp builder OTOC has secured an $8.2 million loan from the Commonwealth Bank to undertake new and larger projects and to fund potential growth opportunities.
The loan comprises a combination of commercial bills, bank guarantees and overdrafts.
OTOC chief executive Adam Lamond said the funding provided the company with the financial capacity and flexibility to pursue larger projects in its core resources and government infrastructure markets.
"We believe the support of the Commonwealth Bank is further verification of OTOC's business model and prospects," he said.
OTOC shares were steady at 10 cents.
