My take is that the 2nd $10m line of credit was due to be drawn...

My take is that the 2nd $10m line of credit was due to be drawn sometime in Q3, but as prodn hasn’t hit the targets, they need/want to draw it down earlier than planned. Hence they’ve given themselves to 20 June to secure the $10m from the Lenders, but come the end of June, they either get the $10m and carry on for another 3 months hoping to get things working, or they switch the lights off if they don’t. Sawyer resigning from the Board suggests the latter is more likely than the former. But, as Alan Bond once said, when you owe the banks $1m you can’t pay, you have a problem but when you owe $100m, the banks have a problem.