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03 May 2019 | 07:41

Metals Exploration gets another month's breathing space from lenders

Metals Exploration said lenders HSBC and BNP Paribas and major shareholders MTL Luxembourg and Runruno Holdings had renewed a standstill agreement over its mezzanine debt for another month until the end of May.

Under the agreement, the company was relieved of making both principal and interest payments due in relation to its Runruno facility agreement and the debt facilities.

'The purpose of the standstill agreement is to allow the company and all its lenders time to evaluate, and consider possible solutions to, Metals Exploration's current financial position,' the company said.

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