Ann: Binding Heads of Agreement with Mungana Gold, page-4

re: Ann: Binding Heads of Agreement with Mung... On the 1st January they had $172m of current assets, $126m of current liabilities.

$533m non-current liabilities, $101m non-current liabilities.

Take off any losses incurred between the 1st January and today...which could be $30-50m, I don't know.

Hopefully the current assets (cash, receivables, inventory, assets held for sale) were realized at full value, which would leave up to $80-100m debt left to be covered by non-current assets sales.

$533m will clearly not happen from the non-current assets, but covering $80-100m of debt should be doable...

It's all up to the administrators to do it.

Ay idea if MUX was a current of non-current asset? I'm guessing it was in the assets held for sale category. MUX is down since January 1st however, $0.385 is a 29% discount to the January 1st price.

So that could be $90-110m is debt that needs to be covered by non-current assets sales.