BRIEF-Alcyone Resources says negotiations between Platinum Partners in relation to expansion plans are incomplete

March 5 (Reuters) - Alcyone Resources Ltd AYN.AX :

* Says termination of credit facility and red arrow acquisition

* Negotiations between platinum partners, co's existing secured debt holder in relation to its expansion plans are incomplete

* Says to undertake renounceable rights issue on basis of 2 new shares for every share held to raise up to $13.8 million

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