Ann: Quarterly Activities Report and Quarterly Cashflow Report, page-108

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Bankable

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28/01/23

12:54

Post #: 65922907
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Originally posted by Dazedandconfused: ↑

Hi Bankable

"12.9million towards debt and interest (@9%, 30 month)"... this number is too high.

There are 33 months left on the debt facility and the interest component was negotiated 2 years ago. The 5B statement shows a repayment of $5M with $86k added for transaction costs. If that represents the interest component (which I assume it is) that equates to an interest rate of 1.72%. Therefore minimum repayments are 3.01M per month with added interest component of $53k = $9.5M per 1/4.

From an operational point of view.... the AISC is not the same as the operating costs which will be substantially lower. With a mine providing "positive operating cashflow" (which is what the announcement states) there is a fair bit of wriggle room in how funds can be allocated in the short term with a catch-up period later to deal with the sustaining element of the AISC number.

The $12M in cash and equivalents offers quite a bit of buffer. The fact management states they are in discussions "to restructure a portion of the Project loan facilities" shows they are aware of the tight position and are working on it.

Perhaps all the fears the company needs to do another CR are justified but in my opinion it is unlikely and some people are being a little hysterical.

Expand

Line 1.5 in the 5b and figure 10 'waterfall chart' both state 2.4m in interest payments for the quarter.

Last edited by Bankable: 28/01/23
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Ann: Quarterly Activities Report and Quarterly Cashflow Report, page-108

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Ann: Quarterly Activities Report and Quarterly Cashflow Report, page-108

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