Mustpow, some interesting numbers, have a look at these from...

Mustpow, some interesting numbers, have a look at these from different documents. Recent presentation p3.

"~$41m already committed by contractors(1) (1) Satisfying obligations and liabilities to Subscribing Contractors and deferred payment amount to BGC"

That is 820 million shares and 820 million options given out by the company without raising a cent. Considering existing shareholders have 900 million between the lot of them, the board has given the contractors an effective 65% of the company for $41m owed.
It shows that the board think the company is really pretty much worthless.
I take it the difference between the $30m and the $41m figures is payment to BGC in shares.

What really gets me though is how there is no plan to pay off any debt due in 2017. They have had this loan since 2012 and have paid off $6m in principle, even during times of $180/t iron ore. What are they actually planning? Answer, probably nothing, other than going back to SH in 2017 and asking for $US269m.