Ann: NCZ EXPANDS WORKING CAPITAL FACILITIES WITH VARDE PARTNERS, page-18

Again this is a dangerous game to play, expanding debt instead of reducing it by raising equity will only serve to weaken the balance sheet, they are burning cash and not making profits, any further weakness of the zink price (a possibility not to ignore) would make servicing the debt in the short term extremely difficult and by then they would have to reschedule it or raise capital at worsened market cap / share price entering a dangerous death spiral.

I have witnessed this scenario playing out in many mining stocks where i lost all my money. If you are making steady profits then sure debt could be a good solution, but when you are a mining capital intensive company and not yet profitable, debt is your false-friend true enemy and will end up biting you when you least expect it. Good luck to all.