Financial Capacity
At December 31, 2003
- Cash on hand - $47.5 million
- Drawn from Credit Facility - $128.5 million
- Access to undrawn revolving credit - $17.5 million
Pd Inventory
- Contracts being finalized for sale 877,169 ounces over 2 years at close to market prices, 50% net proceeds go to prepay credit facility
Asset Impairment
- No effect on bank credit facility
- Reduces D&A charges going forward