LONDON (Alliance News) - Metals Exploration PLC said Thursday it has extended the deadline to consolidate four short term shareholder loans into one.
Metal Exploration received the waiver from two major shareholders, who in November agreed an unsecured standby loan facility with the company.
The natural resources exploration and development company agreed a USD6.6 million facility for short term working capital use with shareholders MTL (Luxembourg) Sarl Ltd and Runruno Holdings Ltd.
Metals Exploration now has until March 31 to consolidate the loans into one facility.
Shares in Metals Exploration closed up 8.3% Thursday at 1.30 pence each