Ann: Chairman's Address to Shareholders, page-46

The LDA equity facility is totally useless. It relies on very substantial volume to get a meaningful raise in and almost certainly drives down the SP and liquidity. The reason is once the call is triggered buyers back off for the 30 days and LDA drip feed smaller and smaller amounts.
We paid $4m establish fee for this dud product which so far raised $5.3m.
I believe management did not understand this product, as if they did, they may well of sort I much smaller amount than $200m (or none at all) because 10 out 10 of these facilities make their money on the establish fee as new users see after one or two calls how destructive they are to SP.
It will never use the $200m may as well be $2bn will never be used.
The fact they list it as unused draw down in the cash position and amount of quarters cover is totally wrong and I suspect ASX will clamp down on this misinformation.
They make it out to be a bank facility drawable at liberty. Which it is definitely not.