charge resources, page-26

"The proceeds of the sale will enable the Company to clear its debts: A$11.8m to Hawkswood Investments Pty Ltd (in Liquidation), US$12m to Ya Global Investments L.P. and A$1.94m to Australian private investors. The remaining proceeds will be used for working capital to expand the iron ore operations in Chile."

At current exchange rates the US$12m to Ya Global Investments L.P represents about A$18M. Therefore loan repayments total about $32M. Not much of the A$36,281,536 will be left over for working capital.

Regards

SP