BUZZ-Australia's Doray Minerals falls on termination of purchase agreement

Tue May 26, 2015 9:16pm EDT
 
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** Australia-based gold miner Doray Minerals Ltd falls as much as 2.27 pct to A$0.430

** To terminate metal purchase agreement (MPA) with Sandstorm Gold over Deflector Project

** Sandstorm had loaned $6 mln to a unit of Doray. The unit converted the loan and interest to an MPA to sell 2.6 pct of gold production from Deflector to Sandstorm

** In return for Doray agreeing to repay the loan early, Sandstorm has agreed to reduced payout figure of $7 mln compared with current balance of $7.8 mln

** Stock down about 8.33 pct this year as of Tuesday's close (Reuters Messaging: shashank.ks.thomsonreuters.com@reuters.net)