Thanks a lot for the replies. It seems hard to find information on Peugeot's, I thought it may be around the early nineties, If it is a dune they must have come out in a 700c version that was renamed a cambridge. The components certainly match with the dune. The model is a Cambridge. I thought this very funny name for a french bike, but upon following your links I also found a 'Churchill' also a funny name for a french bike. This maybe something for the Australian market I do not know. What I really would like to know is if it is full cromo forks and stays or just the main triangle. Also how sturdy is Peugeot's internal brazing system?
As for rust, yes excellent. The sun not the rain appears to be the culprit here. I almost passed this one by, thought it was just an old cheap mtb. Not sure what caught my eye but something niggled in my head and I had to go back for a closer look.
Once again thankyou for the replies