I am not an accountant so I need fellow SHs to correct me if I...

I am not an accountant so I need fellow SHs to correct me if I am wrong. I have few questions and hope somebody with knowledge shed some light.

1) Lenders
before the proposal DML debts was $156m. With the proposal lenders clear all the debts in exchange for $65m cash (pay immediately) + 500m shares. Or $91m debts ($156m - $65m) in exchange for 500m shares.

So basically, lenders value DML share price at least 18c (= $91m/500m) at the time when their longer term debts mature (1-2 yrs???).

The good thing is lenders took the risk and choose to take shares instead of cash. That means they somehow believe in DML

2) Montesant
$5m for 100m share at 5c per share.
$100m notes convertible to 2,222m shares at any time after proposal approved.
10%pa interest payment, or ~ $10m per annum.

***So if proposal approved, DML has no debts but $100m notes and $10m interest payment/yr for 5 yrs. At the same time number of shares diluted from 560m to 1,160m (560m + 100m + 500m) shares.

3 scenarios:
+) sp stubbornly remains below 5c. All parties including DML, lenders and Montesant will not be happy.
+ sp between 5c - 18c, Montesant happy but lenders are not.
+ sp > 18c. All parties are happy.

Based on these assumptions I reckon sp will not stay at around 3c for long and somebody is accumulating. At this price DML is a buy for me.

DYOR.

see also
http://www.miningweekly.com/article/dml-agrees-recap-to-slash-debt-by-91m-2014-04-01