partial close out of copper hedging

Assume this paid the debt picked up from the merger which was due today???

Cheers Fero



COPPERCO LIMITED ACN 004 434 904 (Receivers & Managers Appointed) (Administrators Appointed)
PARTIAL CLOSE OUT OF COPPER HEDGING
CopperCo Ltd (“the Company”) announces that it has completed the partial close out of copper hedges for a total
consideration of A$43,400,000. The close out represented 60% of the copper hedge contracts held by the Company.
The proceeds received have been applied against the outstanding senior debt facility with Macquarie Bank Limited.
A total of 11,680 tonnes of copper remains hedged at a weighted average forward price of A$7,019.91 / tonne.
Should you have any questions regarding this announcement do not hesitate to contact the undersigned.
Yours faithfully
DARREN WEAVER
Joint and Several Receiver and Manager of
CopperCo Limited