Using the current currency of 73.34c the debt of $US268.1m is...

Using the current currency of 73.34c the debt of $US268.1m is $A365.5m so 2 times this is $A731m compared to $A775m at 30th June.
So they had to pay the contractors with shares as using $40m cash would take them down into a breach.
With the cap raising assets have gone up to $825m less continued expenditure as they ramp up. If they keep losing money the cash balance could easily fall enough to trigger a breach, but if IO price stays where it is, they can last a couple of more months. Every 1c fall in the $A helps the bottom line, but brings them $A5.36m closer to breaching the debt covenant.
They are sailing so close to the wind, no wonder the Commsec buyers are the big ones.