The following outlines FML's debt obligations, specifically those related to Shandong and bank guarantees. First, there's a $16 million loan associated with bank guarantees, carrying just 1% interest per annum. This type of loan isn’t one that needs to be repaid per se and will remain in place as long as the guarantees are required (LC, Barminco, Electricity etc.). Additionally, there's an unsecured USD 30 million loan from Shandong, also at a low interest rate of 3% per annum, which isn't due until August 2027. Given the favourable terms and long maturity, there's little incentive to repay this loan early. Combined, these two items total approximately $62.5 million—capital that could potentially be returned to shareholders as a dividend, assuming the intent is there.
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