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Arian Silver Corp backed by contractors as financing talks continue

Published: 16:45 14 Sep 2015 BST

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Arian Silver told investors it has $745,000 of cash as at September 4

Arian Silver Corp (CVE:AGQ, LON:AGQ), which owns a Mexican precious metals business, told investors it is continuing financing talks.

“There can be no certainty as to the outcome of the financing discussions but the company’s mining contractors have confirmed their on-going support pending a definitive conclusion,” Arian said in a statement.

“The company will provide an update in respect of its working capital position and developments in its financing discussions, in due course.”

Arian Silver told investors it has $745,000 of cash as at September 4. And at that time, it also had $48,000 of accounts receivable plus $570,000 trade payables and $223,000 of net working capital.

It added that this excludes (dated August 31) a $2.17mln in respect of Mexican sales tax, of which the company expects to receive $338,000 during the fourth quarter of this year.

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