They only had net cash of A$20M as at Sept end of quarter, with margins slim to nothing and took on a new $25M credit facility... This is a punch in the guts at a bad time...
US$1.16M compounded for 5yrs at 25% is A$5M (US$3.54M).... Literally a quarter of available cash potentially gone...
Agree they'll argue on the interest charged, but regardless this is a bad outcome at a poor time. An opportunity, time will tell, need demand to pick up substancially
Ann: Update on Legal Proceedings in Sierra Leone, page-5
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