LAF's has used debt to settle the 2 matured base metal forward sales.
13.5 million was used to settle the Sept 06 contract, and 13.25 million for the Dec 06 contract.
Total of 26.75 million, which is roughly 3c per share.
There is another forward sale due to mature on 29th March. I suspect less debt will be required to settle as LAF have been quite successful in producing base metals since commissioning.
As soon as LAF can demonstrate steady state production and the market is confident it can deliver into their hedging commitments without debt, then i'm sure we will see the share price rise from here.
LAF Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
