From the prospectus it looks like it will all go in redeeming the notes.
In the risks section:
$400k (plus coupon) due 5 June
$100k due 14 June
$500k payable over 4 months after 14 June
$50k fixed coupon due 14 October
$500k (plus coupon) due 29 September
That takes care of at least $1.55M plus whatever the accrued coupon is so they will actually be a little short unless they get some cash in before the above payments fall due.
Sell the mine, redeem the notes and then hand the surplus funds back to shareholders - everyone will be happy
From the prospectus it looks like it will all go in redeeming...
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Last
13.0¢ |
Change
-0.005(3.70%) |
Mkt cap ! $27.13M | |||
| Open | High | Low | Value | Volume |
| 14.0¢ | 14.0¢ | 13.0¢ | $6.599K | 50K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 19008 | 12.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 14.5¢ | 106683 | 4 |
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| Last trade - 15.39pm 19/06/2025 (20 minute delay) ? |
| MTC (ASX) Chart |