StockMarketWire.com - Brazilian focused gold miner Serabi Gold said it had agreed with Greenstone Resources to extend by six months the period during which it can draw down on a $12m convertible loan facility.

The loan facility was announced on 23 April and was being subscribed for by Greenstone.

'Extending, by six months, the period in which we can draw down on the convertible, will relieve pressure to draw down funds earlier than might otherwise be necessary and avoid incurring additional debt under the convertible that may ultimately not be required,' chief executive Mike Hodgson said.

'This is excellent news for the company and its shareholders.'


At 9:23am: [LON:SRB] Serabi Mining PLC share price was +0.5p at 89p



Story provided by StockMarketWire.com