First sale proceeds is $US 9 mil, which approximates to $AUS 12 mil. You also have the payment from GMM of $7 mil AUD, on top of its cash balance of $10.5 mil AUD, totalling $ 29.5 mil AUD.
But there is no need for GXY to pay off all it's debt right now. Its only commitments is the INTEREST on the $20 mil AUD debt. So some of the $29.5 mil will be used to cover expenses.
Word of Caution, page-30
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)