In regards from my previous post re finance facilities, the announcement was from 22 April 2013. Little need of a CR at present.
Angers
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.
SLR Price at posting:
67.5¢ Sentiment: Hold Disclosure: Held