Sunshine Gets Help From Its Creditors

Creditors of Sunshine Mining and Refining Co. have extended the due date for $27 million in Eurobonds to June 23.

The extension gives the silver company more time to negotiate an agreement with bondholders. Sunshine has been in negotiations with creditors since March, when it was unable to make the $27million payment.

About 260 company employees work at the Sunshine Mine near Kellogg.

Sunshine officials hope to avoid a Chapter 11 reorganization. A solution may involve giving the bondholders majority ownership in the company in lieu of payments, officials have indicated.