They continue to include the extension of the debt facility as significant milestone but do not mention the interest rate. I presume it also continues. I would have thought interest rates at the time the facility was established would have been somewhat higher than now.
Also the interest rates for a speculative mining would be somewhat higher than a miner producing a profit. The latest accounts lists Finance costs as $3,596,189 Would I be right in thinking interest is in the vicinity of 9-10%.
Great if you are Macquarie.
They didn't need to win the t/o bid @ .19 cents they still get to reap the benefits of providing the loan facility.
As for the SP I have no idea.
Can only put it down to management and BOD and a lack of confidence.
Ann: Half Year Results - Central Reports $3.2M Maiden Net Profit, page-4
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