Odd why the remaining $40m hasn't been paid yet, while the $20m...

Odd why the remaining $40m hasn't been paid yet, while the $20m was paid almost immediately.

Prepayment for coal is almost non-existent. So, the only possibility is that the shipment to the particular party isn't happening yet, maybe few months away, hence they hold on to the payment as long as possible.

Definitely a negative for TER shareholders because of the 0.75% BA's revenue condition. Not sure why TER hasn't tried to obtain new loans with better terms to pay off the remaining $38.8m. It's only 10% of the company's market cap, so it shouldn't be so hard? Or did they actually try, but did not inform the market?

Honestly, the bondholders has done us shareholders some good deeds in company's communications, I'm sure they were the reason behind TER reporting monthly EBITDA and coal sales updates.

As I mentioned several times, I do hope management make some sort of announcement about what's the next step forward once the bonds are all paid off eg. expansion? acquisitions? implementations to improve SA's EBITDA?

All IMO