Monday, March 16, 2009

TNR Gold TNR.v Los Azules operator Minera Andes pays off outstanding Macquarie loan of US$17.5 million TNR.v,, CDNX, FXI, HUI, XAU, GDX

Minera Andes is back into solid financial position and Rob McEwen is in charge, next move is to officially notify Xstrata about scoping study and put the clock running its 90 day period for a back up of 51% by Xstrata. Somewhere down the line TNR Gold TNR.v is supposed to make some moves to bring more credibility to its claims in BC court. Winter could be interesting in that part of the world. Shareholders liked the news and stock MAI.v went up 12.5% today, it is still below Rob McEwen purchase price for PP at 1.0 CAD. What kind of a discount is it? Anyway easy money above 1.0 CAD will be made and further positions will be taken down the risk line profile.
SPOKANE, WA, March 16 /CNW/ - Minera Andes Inc. (the "Corporation" or "Minera Andes," TSX: MAI and US OTC: MNEAF) announces that it has repaid in full the Corporation's indebtedness to Macquarie Bank Limited ("Macquarie"), of Australia. The aggregate indebtedness was US$17.5 million, which consisted of a loan of US$7.5 million due on or about March 7, 2009, and a loan of US$10 million due in September 2009. The Corporation no longer has any bank debt.
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