Metals Exploration gets extension to short-term loan conditions

Metals Exploration confirmed it had received an extension to its short term loan with MTL Luxembourg on Friday.

The AIM-trade firm had announced that it was in default of a condition subsequent pursuant to the terms and conditions of the $6.6m short term loan received from MTL Luxembourg and Runruno Holdings on 31 December.

“The company confirms the lenders have approved an extension of time to complete the work required to fulfil the condition subsequent until 31 January,” the Metals Exploration board said on Friday.