Credit: Shutterstock photoWhite Tiger Gold Ltd. (WTG.TO) says this year's gold production at the Savkino mine in Russia will be about 10% below the original target of 20,000 ounces, Canadian Press reported.
The shortfall will put the TSX-listed company in default of a condition in its US$80-million credit agreement with VTB Capital. White Tiger says it has notified VTB and hopes to address any potential concerns.
The company says it's taking steps to meet its previous 2013 guidance of 48,000 ounces.
WTG shares were down half-a-cent to $0.06 on volume of 373,000.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
