"However, if Aeris has not reduced the Senior Debt by a minimum of US$20 million within the first 6 months, the interest rate increases by an additional 3.0% per annum on the balance of the facility above US$10 million. "
So will they be able to reduce the Senior Debt AND contribute their 70% share (approx $12m) to the Torrens drilling which is expected to commence in 2 months time?
Ann: Quarterly Activities Report - June Quarterly 2018, page-12
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