Ann: Redemption of Con Notes, Financing Update and Appendix 3B, page-39

I presume you are referring to this Pokemon (from the half yearly report)?



Surely, chunks of that $6.1m (as at 2017 year end) were paid off in the first 6 months of 2018?

Yet in this announcement:

The secured creditor is the con note - $2.5m. "Up to $5m", and yet $3.5m are prepared to roll over debt....i.e. $1.5m isn't. But the quarterly said $1.0m in liquids (including gold)?

But again, if the age old forecasts of Rogers and crew are to be believed, FY19 is going to the breakout year - 25,000 oz, strong cashflows, so why the need for a mega raising???

Any unsecured creditor with a few neurons will bide their time if they know the money is coming....

So, which is it?

Not much makes sense, that much I do know.