Feb 6 (Reuters) - Sterling Resources Ltd:
* Announces financial update
* Is deferring payment schedules with number of key suppliers in order to extend available funds well into March'
* Says 'confident it will have additional financing to fund the group through to mid 2013'
* Has engaged a financial advisor to proceed with a high yield bond issue in the second quarter of 2013
* Upfront cash proceeds of $29.25 million from sale of a portion of midia licence to ExxonMobil expected in March or April 2013
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