requirements for funding, page-2

Hi guys,

Ignore the LVR bit. It was late at night, wasn't thinking straight.

The LVR will be calculated on the value they assign to the security (I would assume in this case the value of the ore in the ground etc.)

So it would assume with so much copper in the ground, for a $50m lend, we would be well within our ratios... assuming no further conditions placed by the finance firm.

Again, will be interesting to see what comes out in the next few weeks... hope there are no onerous conditions in the indicatives.