follow up volume, page-74

niu,
I could be wrong but the way I read is that they have actually drawn down 21mil already from the 30 mil. If you look at the cash position from the qrtly they say "cash on hand" is 28 mil. 8 mil of that is from the facility.

Cash Position – A$ ’000
Cash on Hand 28,721 28,721 18,099
Debt – Secured Debt Facility (8,655) (8,655) (8,687)
NET CASH / (DEBT) 20,066 20,066 9,412

Now in the appendix they say that of the 28 mil, 15.9 mil is held in standard bank accounts for the purpose of phase 2.
I would say that the 15.9 mil is a combination of the 8mil (loan left) and 8mil of our money which Standard have insisted we put in place as well. This would leave 12.1 mil free cash for other activities. The 20.8 mil expected outlays this qrt, some I would have to come from the 15.9 mil in standards bank accounts obviously for phase 2 but we still have around 16mil coming in from 2 lift payments.Unless we know how much of the 20.8 mil oulay this qrt is coming from the 15.9 mil standard bank faciltity account we don't really know how much free cash is available. does that make sense? Just my two bobs worth.