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I don't think that loop would be much chop
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Non resonant wideband loops only have to be a bit better than the noise floor to work well, I have a Wellbrook and it is very good 10kHz to 30+ MHz. For transmitting you want it to be resonant to get out as much as possible, a non resonant TX aerial will work but require an inordinate amount of power, most of which will be dissipated as heat.