So I've done some quick calcs regarding the existing debt since...

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.