You are correct. After checking the Quarterly Activities Report, I saw a paragraph in Appendix 5B:
"Southern Gold have a $1,000,000 unsecured convertible debt facility. The agreed interest rate on the face value of $1,000,000 is 8%. Interest is paid every six months. Unless the free attaching options are exercised on or before 30 June 2017, the $1,000,000 is due to be repaid on 30 June 2017."
This was a second debt facility, which will be fully repaid with this third profit distribution.
Now, yes, SAU is truly debt-free. Bring on the drilling results!
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Ann: Third Profit Distribution of $2m from Cannon Mine Received, page-6
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3 | 1691200 | 0.010 |
3 | 671111 | 0.009 |
4 | 1005450 | 0.008 |
3 | 942857 | 0.007 |
Price($) | Vol. | No. |
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0.013 | 2128208 | 4 |
0.014 | 1704500 | 2 |
0.015 | 1600001 | 3 |
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0.017 | 100000 | 1 |
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