what will it take , page-7

You might want to check the repayment schedule again. You may be reading the wrong column.

$20 million was not repaid last quarter. Nothing has been paid down on the principle since the schedule was released, and the first instalment of $17.5 million is deferred until mid-January. Although, the Sept quarterly report has $2.9 million in interest paid.

The C1 cash costs in the last quarter were $3.62/lb and that does not factor in:

- administration costs of $1.40/lb;
- interest of $1.36/lb;
- royalties of $0.11/lb

Copper price has to increase to $6.49/lb to breakeven.

I gather you meant that C1 cash costs should be reduced rather than copper price increased.

By-the-way, per the feasibility the saving from converting from diesel to coal would be circa $0.13/lb but DML has to spend $40 million to build the coal fired power station.

In answer to your question...DML is already in default with its financiers. The banks could call the receivers in at any point in time.