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Aureus receives approval to defer debt repayment

1st March 2016

By: Anine Kilian

Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – Aim-listed Aureus Mining has received approval from its lender group to further defer its first debt repayment to April 4.

The company was finalising an updated mine plan, which would form the basis of discussions between Aureus and Rand Merchant Bank (RMB), Nedbank and the Export Credit Insurance Corporation of South Africa to mutually agree an appropriate debt repayment schedule.

A further announcement would be made following the completion of the discussions between the company and the lenders.

The company's assets included the New Liberty gold mine, in Liberia, which has an estimated eight-year life, with projected production of 119 000 oz for the first six years of production. 

The company also held a gold exploration permit in Cameroon.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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