I didn't read
@sydneyguy post before replying to your post and think you can be rightly confused. Our different figures lie on when our snapshot of the figures were taken. Sydneyguy was right after the CR whereas mine was after Jun qtr 2020. Why Jun 2020? The first 2 qtrs had been a tumultuous qtrs and one can't truly judge LJ performance as he needs time to set his agenda and clean up the mess left behind by the previous management.
Here is a good example of the mess:
Mar qtr 2020:
$5.7M were locked in to pay for hedging that will never be in the money.
Jun Qtr 2020:
Again another $4.5M of good money out the DCN bottomline.
So in total for the Mar and Jun qtrs there was a hit of $10.2M against DCN bottomline for actions that were not instigated by LJ and this has nothing to do with the performance and operations of the mine.
Now if no CR was done, would one expect more squeeze to come from the debt holder? There is no doubt about that and it would easily send DCN to bankruptcy.
Cheers.
