"Refinancing anything in this climate is very tough. Best think again if you consider another bank would be happy to take over based on an improvement in commodity prcies"
If output was hedged (repayments secured), banks would be perfectly happy to take over if the price (return on investment) is right. It's not like there is a total credit freeze, there is plenty of money filtering into banks as people retreat to safety. Banks just don't want to put their money at risk, and hedging output should fix that issue.
Just think about, what interest rate can banks get from the FED/RBA? Bugger all. OZL offer 10% return on interest, I expect there'd be plenty of interest.
OZL Price at posting:
$8.30 Sentiment: Hold Disclosure: Held
