Range River Gold Limited – Update
As advised to the market on 21 March 2011, RNG is continuing discussions with various parties in relation to its ongoing funding requirements. The outcomes of these discussions are not yet finalised.
The Company has however, finalised the following arrangements with respect to its ongoing funding arrangements:
1. Entered into standstill agreements until 15 June 2011 with major creditors for debts incurred prior to 1 March 2011.
2. Entered into a standstill arrangement with Macquarie Bank Limited with respect to a prepaid gold facility until 15 June 2011.
In addition Macquarie Capital Advisers Limited has been mandated to assist the Company with regard to its funding options. Given that the funding discussions remain incomplete, RNG is not able to provide the market with sufficient detailed information at this time. RNG will aim to ensure that all discussions and any actions arising are completed as soon as possible. The Company will work diligently to provide complete information to the market in a timely manner and to minimise the period in which its shares remain in suspension. The Company expects to make regular announcements to the market to update shareholders and interested parties of the progress of the discussions. However, RNG does not believe that these announcements will provide investors with sufficient information to make an informed decision whether to buy or sell shares in the Company, particularly when the determinants of the potential outcome remain fluid.
RNG is not aware of any reason why the voluntary suspension should not continue, or of any other information necessary to inform the market about the voluntary suspension.
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