[miningmx.com] – AQUARIUS Platinum’s plans to expand production may be stymied by its obligation to repay $123m in an bond by December 2015, said Bloomberg News citing Credit Suisse analyst, Justin Froneman.
“Aquarius Platinum is not going to be in the position to either buy or become acquisitive because they’ve got the bond overhang that they need to sort out,” Credit Suisse mining analyst Justin Froneman said. “The convertible can be repaid if it needs to be repaid,” he said.
Aquarius Platinum had hoped to further reduce the amount payable on the bond through the sale of non-core assets. However, the buyers of the assets pulled its offer after regulatory approvals could not be won in time from the South African government.
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