Permitting, page-59

the concern i have, is that assuming this 90m has to be paid back, lets look at their position.

stranded asset.
97m cash, less whatever they have spent.

if they turn their attention elsewhere, and spend say 20m on exploration of a new asset, or other JV direction, they would have 77m cash, at when /if that 90m debt is called in.

its a difficult position, and they can just go spending money that they need to repay on the faith of delivering a return on the investment of cash spent.

Exploration elsewhere, can be a money hole, and if debts are call in, it can get ugly.
Administration - where the creditor, is then looking to get whatever they can, and assets sold off, and shareholders get zip.