just going through the Sep qtr (apologies if I missed some earlier announcements or posts that clarify, but a bit stuck for time at the moment):
- 'sale price' of Jiangsu is $230m?
- in satisfaction of this, Tanqi has paid $42m in cash so far and agreed to take over $108m in debt. So they still need to pay $80m and GXY is paid $122m in cash in total therefore.
- qtr says they have a fully drawn loan facility of $157m and convertible notes of $62.4m and are going to burn another $6,5m by end of Dec in operational costs plus let's say another $2m in interest and other costs.
- company seems to be saying that they are going to use the proceeds of the sale to retire all interest bearing debt, so one is assuming that includes the convertible notes...
- so $230m - $157m - $62.4m - $8.5m = $2.1m
Is this correct...will they only have $2.1m odd left?
GXY Price at posting:
3.7¢ Sentiment: Hold Disclosure: Not Held
