Arian Silver receives default notice from Quitana

Arian Silver said it has received a default notice under the terms of its agreements with Quintana San José Streaming and Quintana AGQ Holding.

In a short statement released on Tuesday, the London-listed company said it was considering its options, while Quintana and its affiliates continued to discuss different financing options.

Earlier this year, the silver miner signed a letter of intent to extend its $16.4m secured convertible note with Quintana AGQ by a further $10m, although negotiations were not completed by the 31 October deadline.

Arian shares were up 8.91% to 11.98p at 0930 GMT on Tuesday.