why i am shorting linc, page-10

Hi MrM
Looking back on the last two quarterly reports it they paid down the Revolver loan in the March 2013 quarter and then did repay it in the June 2013 quarter so I think you are correct.

The June 2013 Quarter states at 3.1 that total loan facilities are $547.465M AUD

This must just be for the Two Notes $465M USD plus the $50M USD Wells Fargo loan.

So total cash/undrawn loans available at 30th June 2013 was $123M and not $200M as I previously thought.