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03 Jun 2019 | 07:43

Metals Exploration gets another month's breathing space on loan repayments

Metals Exploration said its lenders and major shareholders had extended a standstill agreement relieving the company of making repayments for a further month until 28 June.

The company's lenders included HSBC and BNP Paribas and its major shareholders include MTL Luxembourg and Runruno Holdings, as holders of its mezzanine debt.

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

A further announcement would be made in due course, the company said.

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