announcement, page-10

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