PETROMARINE ITALIA SPA, Italian subsidiary of Denison Mines Ltd., Toronto, defaulted on its loans from Mediobanca-Banca di Credito Finanziario SpA by failing to make a scheduled $8.2 million (Canadian) payment June 25. Continuing production problems at its Vega field off Italy forced Denison to provide funds to Petromarine for debt service payments. Denison provided a guarantee for the loans, which total $26 million, and is considering restructuring all of its $31.1 million loans.

Jul 15th, 1991
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