Aureus Mining, the TSX and AIM listed West African gold producer has deferred its first debt repayment from 31 January 2016 to 31 May 2016.
This follows two previous debt deferrals in January and March, respectively.
Following the initial deferral announcement, Aureus Mining has now received credit approval from its lender group, including Nedbank, Rand Merchant Bank and the Export Credit Insurance Corporation of South Africa to further defer its first repayment.
The company and its consultant, SRK Consulting, have completed a number of mine plan scenarios at varying gold price levels and these plans have been submitted to the lenders as the basis for discussions with the company, to mutually agree an appropriate debt repayment schedule.
A further announcement regarding the updated life of mine plan for New Liberty will be communicated in due course.