Ann: Mineral Hill Operations Update and Funding Arrangements-KBL.AX, page-29

The company has been forced to do deals to stay alive, shareholders are paying to sustain mining operations and development to put profits into others hands.
At least the note holders have been getting a decent rate while it lasted.

Seems like there will be a reckoning soon.

I will follow the asset, if this asset/operation was clear of its past legacy it would be a good earner (currently still is if you are employed there or benefit from streaming agreement).

If they go under a developed asset will be transferred from one group of owners/shareholders to another.
A takeover is too expensive an option and doesn't wipe the debt.