Ann: Reinstatement to Official Quotation, page-170

I can't wrap my head around that ANN. Are they saying they have 110 million in debt with 100 million cash in the bank? They then used that cash to buy the mine which generates 350 million revenue of which 60 million is profit? But they bought 70% of it. Then they are doing a capital raise post consolidation of 10 to 1 at 20 cents but possibly much higher depending on the SP? Which could raise 25 million at that stage.

If what I make of it is correct then this is a very impressive deal despite the debt. Any buying under 10 will be a solid investment. Please correct me if I'm wrong or if you have anything to add. Cheers.