Lafayette Says Accord to Buy Bank Debt Is `Uncertain’ (Update4)
Filed under: Mine - RapuRapu, Mineral - Copper, Mineral - Gold, Mineral - Silver, Mineral - Tin, Mineral - Zinc, Operator - Lafayette, Operator - RRMI, Operator - RRPI, Operator - RapuRapu Mining
Nov. 23 (Bloomberg) — Lafayette Mining Ltd., an Australian company with a Philippine copper mine, said negotiations with a major potential investor to pay off debt were continuing, and the outcome was now uncertain. The shares plunged.
“The directors are of the opinion that the company continues to be a going concern,” Melbourne-based Lafayette said in a statement to the Australian Stock Exchange today. Still, should the would-be investor not pay off the debt the “directors will need to carefully consider this opinion.”
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