Avocet Mining Seeks Merger After Gold Price Decline: Times
2014-01-05 11:18:29.68 GMT
By Kari Lundgren
Jan. 5 (Bloomberg) -- Avocet Mining Plc is trying to merge
as it faces running out of money in as few as 90 days, the
Sunday Times reported, citing unidentified sources.
* Newspaper also says co. said last week it could not repay
$15m loan to Elliot Advisors, a 28% shareholder
* Avocet hired Investec Bank to find merger partner or another
solution
* Merger is option favored by the company, rights issue is
least preferred outcome
* Avocet and Elliot declined to comment on the report: Times
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To contact the reporter on this story:
Kari Lundgren in London at +44-20-7073-3442 or
klundgren2@bloomberg.net
To contact the editor responsible for this story:
Benedikt Kammel at +49-30-70010-6230 or
bkammel@bloomberg.net
2014-01-05 11:18:29.68 GMT
By Kari Lundgren
Jan. 5 (Bloomberg) -- Avocet Mining Plc is trying to merge
as it faces running out of money in as few as 90 days, the
Sunday Times reported, citing unidentified sources.
* Newspaper also says co. said last week it could not repay
$15m loan to Elliot Advisors, a 28% shareholder
* Avocet hired Investec Bank to find merger partner or another
solution
* Merger is option favored by the company, rights issue is
least preferred outcome
* Avocet and Elliot declined to comment on the report: Times
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Kari Lundgren in London at +44-20-7073-3442 or
klundgren2@bloomberg.net
To contact the editor responsible for this story:
Benedikt Kammel at +49-30-70010-6230 or
bkammel@bloomberg.net