Anglo Asian Mining (LON:AAZ) has agreed a US$1.5mln six month loan from the International Bank of Azerbaijan.
The loan will provide additional funds while production and its flagship Gedabek mine ramps up and a second mine at operation come on stream. Interest on the new loan will be 12%.
Anglo added its gold production target for 2014 remains in a range of 62,000oz to 67,000oz.
Anglo already has an existing loan of US$11.6mln with IBA alongside US$37mln with Amsterdam Trade Bank and US$1.7mln with Atlas Copco.
The gold miner recently issued a warning over its 2013 results saying they would be worse than expected due to higher costs and accounting issues.