MRX 0.00% 0.7¢ matrix metals limited

announcement, page-10

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    From 30 June financials - Notes.
    16. Loans & Borrowings = $5.2mil
    Owed to Glencore with maturity at 31 July 2009.
    Interest @ 3 month AUD LIBOR plus 2.5% margin. At 30 June 2008 this equalled 10.3%.

    Who knows what that rate is now. I say take the $3mil and pay down debt. A good decision by the board.

    Hopefully mrx will be (all but) debt free and still producing from cashflow.

    GSJBWere - Copper remains preferred base metal for investment exposure due to supply constraints and look to rebound in price 1h2009.

    I'm still averaging down for the long term.

    Cheers,
    Mac
 
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