It could be that the loan facility is part of the refinancing.
Of course there is going to be operational costs,ie $4.5m pm.Sounds quite reasonable to produce $10m pm in metal value.
"And all the money from selling this stuff?"
The delayed production/rampup targets and below grade conc would be the prime cause for delayed sales and cashflow inbalance.It does not indicate the mine is unprofitable.The above grade conc' can now be mixed with the lower grade conc to produce a saleable product.Naturally if they do not have a cash buffer it causes problems as we are seeing.Getting the additional $9m funds to allow for unforseen future cashflow issues is a wise move imo.
It could be that the loan facility is part of the refinancing.Of...
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