- Great Panther Mining (GPL -1.2%) says it reached a deal with Nyrstar (OTC:NYRSF) on amending agreements related to the Coricancha mine in Peru, which it says will improve its ability to advance the project.
- Nyrstar will extend its remediation bond obligations beyond the original June 30 expiry date, and the amended agreements provide that Nyrstar maintain a $7M bond until June 30, 2021 and $6.5M for the following year, which effectively defers Great Panther's funding requirements for these amounts until June 30, 2022.
- Separately, the Antwerp commercial court has ordered Nyrstar to postpone a general meeting scheduled for June 30 to make a decision on the dissolution of the company.
- The decision comes after demand from a group of Belgian minority shareholders united with RSQ Investors, alleging a lack of transparency on the restructuring of Nyrstar.