Hi rab. The reduction of debt is a good thing and I agree with...

Hi rab.

The reduction of debt is a good thing and I agree with you there.

June 2010 Debt was $36,474,000.00
Debt reduced by production by $12,815,000.00
Debt reduced by strong US $1,844,000.00
Sept 2010 Debt to $21, 879, 000.00.

Looking at the Annual report there is still $13,600,000.00 owed by stirling Resources payable on 26th February 2012

End of March quarter 2011 should see us close to debt free if all goes well.

Although that was still a shocking quarter for delivered ore compared to the corresponding quarter last year. down by 145,125 tonnes or 2 shipments.

DYOR
jorvik