Production Numbers/Estimates, page-5

I have also done some research into their debt arrangements.

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Debt restructure was completed in May 2016 with $135mil to be repaid. Interest rate is (roughly) 8%. That's roughly $10.8mil in interest per year.

Any cash held over $80mil in a quarter must be repaid via their cash sweep arrangements. $15mil was repaid in October from their Sept 2016 quarter results. Outstanding Debt balance of $110mil remaining. They talk about 'net debt' in their presentations try not to get confused with this.

My 2 cents
**IF** IO price continues to push up, I would say they would be (compulsorily) debt free by end of June 2017, which is an amazing turnaround. HOWEVER, I am hoping the board decides to bring forward Corunna Downs ($40-$50mil to bring to production) which will in turn delay the debt repayment. Bit of a gamble, but I would given the more bullish IO sentiment/price.
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Another thing to note is my projections dont factor in contractor sharing agreements however, do factor in higher C1 cash costs as producing from Mt Webber, Corunna etc will be more costly than producing in Wodgina and Abydos.