"The proceeds of the sale will enable the Company to clear its debts: A$11.8m to Hawkswood Investments Pty Ltd (in Liquidation), US$12m to Ya Global Investments L.P. and A$1.94m to Australian private investors. The remaining proceeds will be used for working capital to expand the iron ore operations in Chile."
At current exchange rates the US$12m to Ya Global Investments L.P represents about A$18M. Therefore loan repayments total about $32M. Not much of the A$36,281,536 will be left over for working capital.
Regards
SP
charge resources, page-26
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