Unfortunate, page-5

Define short term?

When the options are exercised in July or December, that's $35m gone in one hit. Establishment fees will likely be next to nothing this year given all the bad news from the company, and they can't sell even the puny amount of product they have harvested so far, whilst the interest keeps racking up. $90m could be gone very very quickly.

I reckon the FY accounts will contain the phrase 'material uncertainty' about its going concern status, and absent a rescue rights issue the company could be gone before 2017 is out. I don't say this to instil fear, I say it because it's a realistic scenario that people should be aware of. Those who say '2023 before debt is due so no solvency issue' are deluded and I don't want others to have to read that delusion unchallenged.