Debt is $175.9m.Cash is $16.9mDiluted capital 488.236m At 18.5c...

Debt is $175.9m.
Cash is $16.9m
Diluted capital 488.236m
At 18.5c MC is $90.33m
EV is $249m

There is also a potential claim by Sedgman engineers of $1.8m to settle in dispute still.

The admin expense for the June quarter is forecast to be $5m out of a total $12m, with no amount allocated to production. Rather high proportion and higher than the 25% in the 9m to March 2013 don't you think?

Remember Kagara KZL went into voluntary admin in April 2012 unable to refinance its $40m debt (market cap $96m). That is the biggest fear with DML.

And the fiasco with Sundance SDL and Hanlong China is still fresh in people's minds.