So I've done some quick calcs regarding the existing debt since it's been discussed a fair bit. I've chosen to exclude the $44mil in short-term payables because I don't know the exact details behind them, but I'm happy to hear from anyone that does know so I can be more comprehensive.
Current long-term debt can be summarised in the following table:
Facility Debt Interest rate (p.a) Interest $ (p.a) Paid by Minimum monthly repayments
(as of Jan '23)
(Excl. interest)1 Wingate $24,266,000 12% $2,911,920 08/24 $1.3M 2 Glencore $23,815,000 ~13% $3,095,950 02/24 $1.8M 3 Secover $11,041,000 15% $1,656,150 12/23 $900k
I haven't been exact with those interest calcs -- they're only based on Jan this year and not the whole loan period -- so don't count on them being too accurate. Total interest comes to $7,664,000 per year, I've just divided that by 12 to get a monthly figure.
AR1 is producing 33.5t of copper per day at a cost of US$2.85/lb, which includes exploration costs (see ann. 9/01/23). Therefore, monthly profit/loss is:
Excluding exploration, we're at a loss of $260k per month. Both values are obviously going to go down along with production costs and as debt is repaid.
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