If we get a USD $ 30m loan - are you really thinking I was...

If we get a USD $ 30m loan - are you really thinking I was suggesting spending the entire amount on a buy-back? That is insanity.
If you are not aware, most companies in the world run on debt and we have a tiny bit of debt to the pref shareholder.

If we are cash flow negative as you suggest, then we definitely need the loan for protection and a safety net. Being cash flow negative will depend on what you include in the calculation and I can tell you, if you remove the capital expenditure, we are then cash flow positive.

Taking on a loan from a Thai Bank was part of the settlement (yet we don't have it). It is extremely smart as it creates a risk to a Thai entity that isn't us. It allows us freedom and flexibility and to perform a modest buy-back over time.

Anyone who does not believe this is a decent course of action is not a business person and they probably think it's best to pay $2.5 a share in 12 months' time.

To end off, ill reiterate our position. We will be debt free before the end of 2023. We will be producing 8,000 to 10,000 ounces a month. We will be profitable to the tune of AUD 10,000,000 per month. So, borrowing money now at 10% interest to buy back a few million shares that in 12 months should be 50% to 100% higher is a complete no-brainer, if it is not risky and it is not risky.

Perhaps, the Thais said no to the loan. It has been 6 months and nothing??