Ann: Terms of Group Refinancing Successfully Negotiated-PGI.AX, page-3

Ok, so having another read, it would seem the repayments don't start until Dec 31st 2016, so that gives PGI approx 6 months to build up a sizable cash pile (9 quarterly payments in total up to Dec 2018).

I can only speculate, but this should ensure that PGI is able to fully fund their possible share of development costs for China, plus hopefully allow for exploration and possibly, start repaying debt early. I wonder if PGI has any further modifications they would like to make to the plant (that are economically viable considering we only have 3.5 years of production left from the tailings?

I should add that the numbers above don't include silver revenue. So the numbers should look quite a bit better. I estimate that by 2019 PGI (if they do nothing else), should have at least US $30m in cash, which is approx 3-4x the current market cap after all the debt is paid off.