Extract fromThe Australian Financial Review --- Page: 50
Croesus Mining chair Michael Kiernan appears to be making some headway in saving the gold producer. Croesus found itself in trouble in April 2006 when it could not meet it hedged gold commitments. The miner's hedging partners, Macquarie Bank and Mitsui Precious Metals, have now agreed to let Croesus make the deliveries over four years instead of two, thus allowing the company to sell some of its output for higher prices on the spot market. Meanwhile, Kiernan says three Western Australian miners including Avoca Resources are considering mergers with Croesus
Extract fromThe Australian Financial Review --- Page: 50 Croesus...
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