Ann: Bank Debt Facilities , page-14

This debt facility has been well flagged, and makes sense imho. They need to get some of their own funds out of Laos (replaced by debt) in order to fund other things.

For whatever reason (no doubt fully justified) they've been keen to eliminate the current project debt facility.

With up to about 4 nonproducing projects being being developed over the next few years this new facility is no doubt prudent. Hopefully the rest will come out of cash flow (incl from BH within eighteen months).

Some newbie poster here trying to brew up a scare about the Loas government might like to take into account that governments apparently exemplary record wrt both Oxiana and to PanAust to date. They get royalties, 10 equity and taxes soon as well. Seems a mutually respected relationship imho. Rudd and Swan just got too stupid and greedy, you shouldn't tar all socialists by them. Also they were working in the absence of a legal agreement wrt taxes, something which PanAust has in Laos. I'd rely more on the mutual self interest myself though.

EL