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.
Be the first to comment on "Audrey wins loan extension with lenders"