Ann: Half Year Accounts , page-2

And these clowns think that shareholders are completely stupid and will pay more $$$'s to prop up their huge salaries via a SPP.

Not only that, we now have to contend with repaying loans that were also used to prop up these huge salaries.
How do they plan to pay this from Surda cashflows when there is a $150,000 per month deficit due again to their huge wage bill.
These directors are 'beyond belief'.


Two loan facilities either mature or need to be serviced during the next twelve months. The Directors expect
to either repay or service these loans as follows:
? The Indian bank overdraft facility of $2,653,000 is expected to be serviced from operating cash flows
from the Surda mine; and
? The loan from Noble Resources Australia Pty Ltd of $1,500,000 is expected to be repaid in full during
the next twelve months from a combination of proceeds from IRL?s loan receivable due from Swan Gold
Mining Limited and proceeds from the private placement facility with Chimaera Equity Market Neutral
Fund (refer Note 6(c)).