Ann: Strong Shareholder Uptake for Entitlement Offer, page-62

Interesting question Rod. They would have to completely rehabilitate the tailings dump and the old mining pit. But if they wanted to mine themselves they'd be up for another bond. Also if they mined South Block, they couldn't complete the rehabilitation of the pit and would need to reuse the tailings dump in the interim. Catch 22

There is also a power bond. With the QLD govt wanting another $30m, there must be close to $250m in bonds. The market cap is only $314m.

Going back to what the nut said. MMG will occur every six months calculated as 40% EBITDA calculated. Without the CR, they would have been sailing too close to the wind even with the ~5000% increase in operating cash generated because of the timelines. Something I missed.

Scary to think how close they actually came to being becalmed. As we all know from the trading game, timing is everything. And a little luck.