Ann: Classic secures $10 million to take Kat Gap to production, page-48

so when the $28 million in loans were made did any money actually hit the CLZ bank account or was it "in consideration "??? Did the company just run on the multiple CR events that occurred in the past? so is it all a bit "Ponzi"like where no money actually exchanged hands but the loans would need to be paid out,plus interest, when the liquidators wind this up OR if any gold actually gets poured. For $28 mill I would expect a fully functioning mine of this small size at Kat Gap. When I worked for SOGS many years ago we started up whole mines in the Yilgarn for much less than that including the resource drilling. And with more Ounces.