Ann: Dargues Project Financing Update , page-14

ok, in the last few months, they have spent $20million on Dargues, yet their bank balance has only gone down $15million. Ie $5million in profits from Henty have offset some of this spend. Assuming they only need 50% equity for Dargues they will need about $40million of their own money plus $40million from the CBA give or take. Assuming Henty does not make a profit going forward (which it will and is) they have another $20mill to spend out of their own pocket, which would leave them with $7million left and $40 million owed to the CBA, but producing 100,000 ounces a year with say a profit margin of $300-$400 per ounce. ie $30-40million in profits per year. That's a very short payback period for this debt.