LAF lafayette mining limited

quarterly report ending december 31 2006

  1. 1,017 Posts.
    RE:HEDGING.

    At 31 December 2006, the group held forward
    sales contracts for the following quantities of
    metal:
    Copper 14,425 tonnes
    Zinc 18,325 tonnes
    Gold: 145,887 ounces
    Silver 1,224,557 ounces
    On a mark-to-market basis, this total hedge
    position was out of the money in the amount
    of US$151,983,375. With the decline in spot
    base metals prices since the end of the
    quarter, the out of the money position has
    decreased to US$130,336,475 as at close of
    business on 30 January 2007.
    At 31 December 2006, the group had
    outstanding senior and subordinated debt
    plus unsecured convertible notes totalling
    US$77,828,000 and A$8,000,000
    respectively. The group also had standby
    credit arrangements in place totalling
    US$4,135,000 and undrawn lines of credit
    totalling US$16,847,000.
 
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Currently unlisted public company.

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