20th Apr 2016 07:46
LONDON (Alliance News) - Avocet Mining PLC on Wednesday said it has agreed a further USD800,000 in short-term funding from major shareholder Elliott Management.
The new funding is an extension to an existing loan agreement Avocet has in place with Manchester Securities Corp, owned by Elliott.
The total loan from Manchester will rise to USD3.05 million and will carry a 14% interest rate.
Avocet shares were up 0.6% to 4.25 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
AVM.L