Lydian (LYD.to) scores double points for its NR today. Not only does it qualify magnificently for the IKN First Law of Mining NRs…
“The
IKN First Law of Mining News Releases: Considering that anything
contained in a mining news release is presented in the best possible way
for the company in question, any piece of information contained in a NR
that comes across in any way negative means the real news and/or events
behind it must be very, very bad indeed.”
…but thanks to its title line “Lydian Announces Financing Update” and first paragraph content, it also gives us a top class buried lede: Here ya go, enjoy it as much as I did:
TORONTO, Aug. 16, 2018 (GLOBE NEWSWIRE) — Lydian International Limited (TSX:LYD)
(“Lydian” or the “Company”) is pleased to announce that its senior
lenders have agreed to extend the initial repayment date and the
availability period from previously announced August 15, 2018 to August
31, 2018.
Lydian continues to have further
discussions with key stakeholders in order to complete comprehensive
revisions to several key funding instruments to ensure appropriate
funding is available to Lydian as the Company works towards removing the
illegal blockades at the Amulsar site, resuming construction
activities, and completing construction and commissioning of its Amulsar
Gold Project.João Carrêlo, President and Chief
Executive Officer of Lydian, stated, “We are extremely pleased with the
continued support from our senior lenders and stream providers and have
made significant, positive progress on the principal terms of the
financing amendments to deal with the current situation in a
comprehensive fashion. We are proceeding to formalize terms in final
documentation that will allow the Company to continue in the current
circumstances and be ready to remobilize when the illegal blockades are
removed.”