Lets try and make some sense before we get the real...

Lets try and make some sense before we get the real answers.

Total facilities are $257m with $237m drawn
1. bond repayment of US$4.25 due 20 March 24 and then quarterly
2. Naif - no bond repayments until march 2028
3. NAB working cap $15m

So surely not hard to find US$4.25m but are the covenants an issue?

So how much capital is required. Market cap is $139m so to raise another $2m or so will be dilutive.

What are the real issues and why are they so hard to solve? Nothing is new in the technology etc.