Audrey talking with Billiton Metals

Audrey Resources (TSE) of Rouyn-Noranda, Que., has resumed discussions with Royal Dutch/Shell Group subsidiary Billiton Metals Canada regarding the sale of its Mobrun polymetallic mine assets.

Audrey, which reported a third-quarter loss of $374,000 or 2 cents a share, has also begun negotiations with Australian banker Elders Finance Inc., in a bid to gain a 2-year moratorium on debts of $12.1 million.

While the final payment is due in September, 1992, Audrey is trying to gain more room to manoevre as it attempts to raise $45 million for development of the new 1100 massive sulphide lens at Mobrun, said spokesman Caroline Huynh.