Ann: Suspension from Official Quotation, page-16

I agree with that statement. If truly they have fixed the issues with production and get at least close to nameplate (32.5k tonne per year) which would be a bare min expectation. Then even if we have 200 million USD of debt again with a some fingers crossed and steady management to avoid any more major problems for the next 2-3 years plus a healthy copper price above 3 dollars per pound and then TGS will should have surely paid most of that debt down and be safe.

If TGS gets to this point (yes a big if) I would advise against borrowing again. Because the amount we are paying in interest is very high and we must fund future expansion (thinking cobalt) using profits. Also once debts are paid down we have to have a 30 million USD plus buffer to help if anything major goes wrong. Problem with TGS is they are a 1 mine company so the risk is higher.