As announced in December 2012, Silver Lake signed an agreement...

As announced in December 2012, Silver Lake signed an agreement with National Australia Bank Limited (NAB) for $75 million in banking facilities.

The key features and status of the facilities as at the end of the March 2013 quarter are as follows:
• $35 million revolving cash advance facility (unsecured) – $25 million drawn down;
• $20 million asset finance facility (secured by the underlying equipment) – unused; and
• $20 million environmental bond, bank guarantee facility (unsecured); $7.5 million used to replace existing environmental bonds.

Cash & bullion on hand as of 31 March 2013 totalled $11.2 million with a net debt position of $13.8 million. 10,229 ounces forward sold at $1,364 per ounce were delivered in the quarter to close out the hedge book that came with the Integra transaction.