The December Half-Yearly shows current borrowings of $0.23M and non-current of $11.06M (total $11.29M). Total Equity was $10.21M, which increased to $14.91M with the $4.7M raised through the January SPP.
The debt/equity ratio at the beginning of 2018 therefore was 68%. Not an abnormal figure by any means.
(Sorry to introduce facts into the forum, guys)
Ann: Letter to Shareholders - Upcoming EGM, page-124
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