From 30 June financials - Notes. 16. Loans & Borrowings = $5.2mil Owed to Glencore with maturity at 31 July 2009. Interest @ 3 month AUD LIBOR plus 2.5% margin. At 30 June 2008 this equalled 10.3%.
Who knows what that rate is now. I say take the $3mil and pay down debt. A good decision by the board.
Hopefully mrx will be (all but) debt free and still producing from cashflow.
GSJBWere - Copper remains preferred base metal for investment exposure due to supply constraints and look to rebound in price 1h2009.
I'm still averaging down for the long term.
Cheers, Mac
MRX Price at posting:
$1.35 Sentiment: LT Buy Disclosure: Held
