I got this off the Mining Business Media web site: DARWIN, Sep 6...

I got this off the Mining Business Media web site:

DARWIN, Sep 6
A voluntary administrator has been appointed to Australian iron ore producer Western Desert Resources after its banker Macquarie refused any ongoing financial support.
While WDR’s hedge book is “in the money” for about $A25M, in addition to denying any short term support, “Macquarie has also refused any access to the hedge proceeds pertaining to WDR’s July and August shipments of about $7M,” company secretary Mark Seatree says.

Luckily I only have a small parcel of shares left. But the writing has been on the wall for some time IMHO.