revisiting, page-2

From memory, debt comprises $US25mil in bank debt repayable in instalments over the next two years and $A155mil in convertible note debt repayable from Dec 2012 to Mar 2014.

But the biggest headache here is the hedging that falls due over the next two years - again from memory, they have around 108,000 ozs this year and around 208,000 ozs next year(2010)- this is the killer year IMO - the extra 100k ozs in 2010 are priced at $NZ1,000(current gold price is $NZ1,500) - the other 216,000 ozs that fall due over 2009/10 are at an even worse price.

Without a lift in the current gold price, they'll remain on struggle street until the end of 2010.