seriously undervalued, page-41

Shabandri,

your figures are completely wrong!


1st line on the example you used says '$US15m drawn under a $US20m debt facility'

you've counted it as $20m at the bottom.

and then you've added the $65m finance just signed - without removing the above $15m even though what you pasted says:

'A secured 3 year term loan facility of $US15m to be made available to refinance an existing debt facility advanced by EDF Trading'

so at worst it is already down to $81m...