Screwed due to the balance sheet ... Loan facilities: Investec...

Screwed due to the balance sheet ...

Loan facilities:

Investec Bank PLC:

- US$7.5 million overdraft facility (3.5% p.a. + LIBOR);

- US$7.5 million inventory finance facility (2.5% p.a. + LIBOR); and
- Secured.

Resource Capital Fund VI L.P and Pala Investments Ltd:

- US$20 million convertible loan facility (8% p.a.); and secured.

Loan facilities exclude miscellaneous hire purchase agreements and mortgages ...

End of June:

Total estimated cash outflows $6,150m.

Big debt ...

This is why PEN is at 30c and may have nowhere to go apart from the teens after potential NY debt negotiation and/or consideration of future debt.

I'm shocked how a few of you have put up with it all.