3rd May 2016 08:24
LONDON (Alliance News) - Aureus Mining Inc said Tuesday its lender group has given the company a further extension to the deadline by which it is expected to made its first debt repayment, to May 31 from April 29.
The company's lenders, FirstRand Bank Ltd, Nedbank Ltd and the Export Credit Insurance Corp of South Africa Ltd, have given Aureus another final credit approval to delay a repayment that was due on Friday.
The original repayment was due at the end of January, but Aureus's lenders have given numerous extensions, as Aureus looked to finalise its updated mine plan for the New Liberty gold mine in Liberia.
On Tuesday, Aureus said it has completed a number of mine plan scenarios at varying gold prices, and it has submitted these to the lenders as the basis for discussions to agree a new debt repayment schedule.
Shares in Aureus were up 5.2% at 6.57 pence on Tuesday.
By Hannah Boland; [email protected]; @Hannaheboland
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