I think you will find they extinguished about $10mill of debt when they sold the Processing plant and some of the leases, however circa $16mill debt and $166k in the bank does not look any better!
It will be interesting to see if they can once again convince the Auditor that it is a going concern in the September Financial report.
DYOR My thoughts and ramblings only
I think you will find they extinguished about $10mill of debt...
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