Tiffany & Co. Deferring Payments, Says Diamcor

Rough Market
21/01/2016 09:12

Diamcor Mining Inc. said that Tiffany & Co. Canada has agreed to payment deferrals and a maturity date extension of its loan and convertible debenture financings with the company for six months. Diamcor reportedly had a long-term debt of $4.41 million owing to Tiffany as of October 30. The arrangement is subject to the finalization and execution of amended documentation whereby interest will continue to accrue on the outstanding balances of the financing facilities during this period, with payments of both principal and interest to commence again on July 20, 2016. Diamcor Mining Inc. runs the Krone-Endora at Venetia Project in South Africa.