Lets be honest shall we....
"Under the revised terms, Pilot will purchase the WA State based assets through a vendor financing arrangement pursuant to which Pilot will provide a secured note to Triangle in the amount of $5,563,000. This note will have a maturity date of 30 September 2026 (or earlier in the event of a sale of a material interest in the CHJV by Pilot to a third party). The note will
accrue interest from 30 June 2025 at 10% per annuma which will be capitalised to maturity. Pilot will make a one-off cash payment to Triangle of $167,000 on 31 August 2025 in recognition of the deferred interest accrual under the note. Details of the revised terms are set out in the ASX
GY announcement of 28 Marh 2025"
They apparently have availabe 3.7M to drawn down on.
Staff and other base costs are around 700k a quarter, before all the other costs they seem to be bleeding out the door.
So a new CR and more dulition is on the cards next qtr.
We are in a positive swing MDAC but the SP is just moving sideways. Overall however the SP chart is reflecting the dulition thats continues to occur.
Being leaky watch for any movements in either direction now.
(20min delay)