Gotta disagree, company now has essentislly 5m over its head it is unable to repay until production (if it gets there). It is now wet season, and any drilling is unlikely to occur for months. Results fron a campaign probably won't roll i until the now delayed FEED due date of mid-next year.
Having an extra 5m debt to repay can only be looked at unfavourable by financiers.
My 2c, - still a necessity to have this tobdeaw upon though. Much better to have the option sitting there to use when required.
Ann: Funding Agreement with Acuity Capital, page-8
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