Angers/AllJust spoke to Keren Paterson, Corporate Development...

Angers/All

Just spoke to Keren Paterson, Corporate Development Manager and asked a few questions, response as follows:

Regarding refinancing Debt - Her comments were "we are working dilligently on this issue"..."we are consdiering all options"..."we have until end of December to refinance"..."thats all I can say on the issue"

Not exactly a resoundingly positive set of statements which give confidence everything is under control, I think.

Regarding the Hedge - She advised this is in place until June 2010. It covers operating cost and the hedge will work well for CUO.

Regarding share price and sell down - without naming them she said institutions and funds have been selling CUO down over recent weeks becasue of situations they are in and not because of concerns over CUO. She commented that all miners are being sold down, BHP at 24 bucks etc.

Regarding Production concerns - she said CUO have no concerns, all is good, they are producing. She sounded very confident about this.

The debt is the big concern at present IMO.

I hold.