TSXV:OSU.H - Post by User
Comment by
amarkspon Sep 29, 2008 6:15pm
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Post# 15492442
RE: Breathing space...
RE: Breathing space...This means OSU gets market price on all its gold sales for Sept - Dec.
Debt repayment is separate and is tied to LIBOR... This $61M total has been renegoatiated and is payable semiannually. Next payment is due 12/31/08 in amount of $16.65M, and then next payment is due 6/30/09 for a bit over $20M. Note OSU will be virturally debt free by end of 2009 if it meets this payment schedule. If OSU meets its production targets (80%+ of capacity), it will easily meet this debt repayment schedule at current gold and copper prices.
| The following table summarizes the long-term commitments of the Company as June 30, 2008: Total $000 | 2008 $000 | 2009 $000 | 2010 $000 |
| Long-term debt | 61,000 | 16,650 | 40,525 | 3,825 |