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I thought that the debt facility was already fully repaid and...

  1. brinvestor
    61 Posts.
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    28/02/17
    10:08
    Post #: 22960895
    I thought that the debt facility was already fully repaid and they had 800K in the bank debt-free. Here is the extract from their 2nd profit share announcement:

    "Southern Gold has applied $1.2 million of the latest $1.5 million distribution to the repayment of the working capital debt facility provided by Westgold which is now fully repaid. The remainder of this second distribution will be received as cash."

    Why do they have to pay another $1m? I might have missed something, but it is good to see the money flowing.
    Last edited by brinvestor: 28/02/17
    SAU Price at posting: 29.0¢ Sentiment: Buy Disclosure: Held
    Likes Created with Sketch. 2  Upvote
    lightbulb Created with Sketch.  Great analysis
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