Ann: Quarterly Activities Report - June 2018, page-19

Thanks for your analysis DrFouad. I agree with much of it, though obviously it cannot be regarded as certainty. The question is how much is the risk of failure (20% likelihood, 30%, 40%?) and is it reasonably (or perhaps too excessively) represented in the price today by Mr Market?

My only question is how you got the total debt figure of around $130m? Page 4 of the June quarterly Appendix 5B says $177.3m in drawn loan facilities. Any thoughts?
Again thanks.