Audrey wins loan extension with lenders

Polymetallic miner Audrey Resources (TSE) has reached an agreement with Elders Finance Inc. to extend to June 30, 1992, the final reimbursement of its long-term debt of US$12.1 million. The maturity date of this long-term debt was Sept. 30.

Having recently secured an agreement with partner Minnova (TSE) relating to the development of the 1100 lens at the Mobrun mine near Rouyn-Noranda, Que., Audrey says it is now in a position to complete discussions with financial institutions for the re-financing of its long-term debt.


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