I don't agree that this is as bad as you all think. Sure we need to postpone a debt payment of 30m, but from memory once the plant has been operating at 70% for 6 months we are free from Mt k constraints to raise finance. We are better to defer the 30m get over the hurdle and then do a deal without Mt k. Remember this is the end game for Mt k once we are cash neutral and refinanced Mt k are effectively out of the money...
Ann: Debt Facilities Update, page-19
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