Hi Farmer, yes it will be the quarter when principle repayments commence that the required reserve would be at its peak I would think. As per the Annual report this is 31st March, which is in the March 25 quarter and this quarter commences on the 1st January 2025, which may be relevant given the "at all times" condition.
It will be interesting to see where the funds come from, though another option as I previously mentioned is to get agreement from Gemcorp to further extend the grace period, they have already extended once, so I guess that indicates Gemcorp is willing to help out. Of course it would be even better if they could get Gemcorp to waive the condition altogether.
Hi Farmer, yes it will be the quarter when principle repayments...
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