On Sept 4, Emerita Resources Corp. has secured a substantial USD 35 million fourth tranche under its amended loan agreement with Nebari Resources, bringing the total financing capacity for the Iberian Belt West (IBW) Project to USD 50 million. To date, only the first tranche has been drawn. Remaining funds are available at Emerita’s discretion to support exploration, engineering, permitting, and infrastructure development as the company advances toward a development decision. Emerita’s CEO, David Gower, emphasized that the expanded facility provides “increased financial flexibility… with less dilution,” ensuring no delays in long-lead equipment procurement. Nebari’s Managing Director, Steven Bowles, noted that the enhanced loan facility reflects confidence in IBW’s significantly expanded resource base. As part of the updated agreement, Emerita will issue 1.22 million warrants at C$1.45 (expiry Aug 2028), with additional bonus warrants triggered upon drawing Tranche 4. All issuances are pending TSXV approval. Based on the current timeline of the project, it is expected to reach the stage of likely development decision from early 2026.