Gold miner Avocet hints at possible break-up

Image courtesy of Avocet Mining

Oct 1 (Reuters) – Avocet Mining warned on Monday that it could be broken up as the struggling gold miner continues talks with its largest shareholder, Elliott, to restructure its debt.

The company, which is in discussions with Elliott regarding its debt repayments, said that it has sufficient funds to operate for the next year provided that the capital and interest on the Elliott’s loan will not have to be paid in the next 12 months.

(Reporting by Sangameswaran S; Editing by Bernard Orr)

1581 0

More Gold News