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Oz Minerals gets bank lifeline as assets go on block

Posted on 30 December 2008

From Reuters: Oz Minerals, which mines industrial and precious metals in Australia and Laos, was given another two months to persuade lenders to refinance $560 million in debt as it tries to raise cash by selling assets to combat sharp falls in metals prices.

The company, whose shares were suspended November 28 after dropping 85 percent from their January price, was due by the end of Monday to refinance a $140 million loan and a syndicated credit line of which $420 million has been drawn….. Full Article: Source


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