did anyone catually read the lenders update?

Gents,

Yes,

I read it and something didn't seem right.
Besides the lenders allowing them full access NOW to all funds held for operational expenses,but unless someone made a typo

31 DEC debt $128.9m + $25m revolver total cash $11.6m incl DSR
17 FEB debt $123.8m + $25m revolver current balance DSR $6m

31 Dec 153.9-11.6=$142.3 nett debt
17 FEB 148.8-6m=$$142.2m nett debt

It looks as though many are running for the hills as they think the bankers might be cleaning out the till,HOWEVER,on a straight cash flow basis BREAKEVEN or just slightly for the last month with NO HEDGING CASH INFLOWS.mmmm though they were close,but not that close.Nothing mining some 1.2% ore wouldn't achieve overnight though.

Of course assuming non interest bearing debts has not risen as a result.

We already know from the end of the last QTR they were mining more millable material although not at the grade they wanted,but to a more sustainably cheap u/g mine access plan by the look of it("profitable on a month to month basis"or some such words?)and have been using up the lower grade transition previously mined to fill the mill(note grade lower than the prior QTR)to maximize utilization and expense out while they had the capacity.

DYOR+DYODD risks? still holding happily.