My last post here before QIN trade again, which I believe, but...

My last post here before QIN trade again, which I believe, but many other non holders might think different...

The below are what I found from Half year accounts back TFS day...

"
NOTE 9: FINANCIAL LIABILITIES (CONTINUED)

1. (iv) At 31 December 2016, a total of US$250m has been raised from international markets from the issuance of 8.75% senior secured notes, with a maturity date of 1 August 2023. This liability has been converted to Australian dollars using an exchange rate of 1.383 (30 June 2016: 1.347). All principle in US dollars is payable at maturity date with interest to be paid semi-annually, in arrears on 1 February and 1 August of every year.
   
   At any time prior to 1 August 2019, the Group may redeem some or all of the notes at a price equal to 100% of the principal, accrued interest to the redemption date and a “make-whole premium”. In addition to this, the Group may also redeem up to 35% of the original principal with the net proceeds of certain types of equity offerings at a redemption price of 108.75% of the principal, plus accrued and unpaid interest to the redemption date.
   
   On or after 1 August 2019, the Group may redeem some or all of the notes at a premium that will decrease over time as set out below:
   1 August 2019 to 31 July 2020 .......... 106.563%
   1 August 2020 to 31 July 2021 .......... 104.375%
   
   1 August 2021 to 31 July 2022 .......... 102.188% 1 August 2022 ................................100.000%
   
   The notes are represented by one or more global notes and are listed on the Singapore Stock Exchange (SGX-ST) for trading. The notes are secured by a fixed and floating charge over all the assets of the Group, refer Note 6.
   
   ((((((((((((((The proceeds of these new Notes were used to redeem the Group’s original Notes, issued in 2011 and due in 2018.))))))))))
   
   
2. (v) At 30 June 2016, a total of US$200m had been raised from international markets from the issuance of 11%
   
   senior secured notes, with a maturity date of 15 July 2018. In the current period, these notes were redeemed early at a premium of 104% following the issuance of the new 8.75% senior secured note. The redemption resulted in an early call premium payment of $10.648m.
   
   Quote ends.
   
   So as far as I understand, QIN has $200m debts due July 2018 but it re do another bunch debts of $250m to cover that $200m debts and those refinanced debts are due 2021...
   
   Therefore, it is not 250+200m, but 250-200 but with accrued Interest(expense), please check the last sentence I cited with breaks ((()))....
   
   Still remember many talking down QIN by saying around 500m debts, Misleading with intention or what??
   
   Also, Qin had paid out $10.5m Debt by doing early redeem with its existing cash....
   
   So the above quotes I cited from Qin could explain 2 things, one is clarifying its debt figures, two is it might partly explained why Qin cash reduced dramatically from 89m to 17m....
   
   
   In addition, please see the below I copied from Qin half year account ended 31st December 2016:
   • Harvesting and processing (oil extraction) costs, estimated at $16,000 (30 June 2016: $16,000)
     
     per hectare and $207 (30 June 2016: $207) per litre of oil respectively;
   Quotes end.
   
   Coz Qin harvesting around 1000 acres recently, so around 17m expense for harvesting approximately...