LITHIUM miner Alita Resources said that the standstill period with a consortium of lenders led by Tribeca Investment Partners has been extended by a few days to Aug 23 at 7pm.
The company and the lenders had previously entered a standstill agreement until Aug 20 regarding asserted events of default relating to a A$40 million loan facility. The extension will allow more time for negotiations with lenders and other parties on the loan facility refinancing options and recapitalisation proposals.
The asserted events of default relate to non-acceptance by lenders of an updated life of mine plan; and an alleged failure to comply with physical parameters of the preciously approved life of mine plan. A life of mine plan is a formally approved long-term plan for a mine.
Alita Resources shares have been suspended since Aug 14. Prior to the suspension, the counter last traded at 8.2 Singapore cents on Aug 12.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Goldman CEO memo calls Apple Card 'a beginning' on launch dayGoldman Sachs Group Inc officially became a credit-card lender on Tuesday by rolling out its first product with Apple Inc , but the bank has ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Football: Leicester's Slimani joins Monaco on season-long loanLeicester City's Algeria forward Islam Slimani has sealed a season-long loan move to Ligue 1 side AS Monaco, the Premier League club said on ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Bayern sign Philippe Coutinho on loan from Barca with option to buyBarcelona's Philippe Coutinho has joined Bayern Munich on a one-year loan worth 8.5 million euros (S$13m) with an option to buy, the Spanish club confirmed yesterday. 'The agreement provides for an option for Bayern to buy at 120m euros,' Barca said. The...
Source: thenewpaper - 🏆 7. / 63 Read more »
Businessman suing mistress for $2m says he felt 'cheated' when she changed loan agreementSINGAPORE - A 55-year-old businessman who is suing his former mistress for the return of $2 million alleged in court that he felt 'cheated' when he found out she had unilaterally changed the terms of their loan agreement.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
‘Calamity may come’ if Singapore doesn’t take care of its coastlines now: Masagos ZulkifliThe Minister for Environment and Water Resources also shared more on the citizens’ workgroup, saying one problem it will look at is how to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Chelsea's Zappacosta joins Roma on loanChelsea right back Davide Zappacosta has joined Italian side AS Roma on loan initially until the end of January after signing a new one-year ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »