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Terence Goodlace, CEO of Metorex

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» Metorex focuses on cutting debt

Metorex plans to tackle debt

| Thu, 10 Sep 2009 14:34
[miningmx.com] -- DIVERSIFIED South African miner Metorex posted a disappointing set of annual results and it is forging ahead with plans to reduce debt after a spate of asset sales during the course of the year.

"We have the debt issue on our radar screen. We know what we need to do and we have a special intent on reducing and restructuring the debt," Metorex CEO Terence Goodlace said on Miningmx's weekly podcast Metal Heads.

He said debt should be reduced significantly by the end of the 2009 calendar year.

"We need to be proactive, definitive and not surprise our shareholders on the downside," Goodlace said.

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