Perhaps you are confusing loan debt with ordinary debts, or...

Perhaps you are confusing loan debt with ordinary debts, or liabilities?

At 30th June the company had the following liabilities:

Trade Creditors $6.4m
Other Creditors $1.1m
Employee benefits $0.4m
Convertible notes $3.2m, with a maturity dates in October 2013
Convertible notes $3.625m with maturity dates Feb/Mar 2015
Building mortgage $0.09m
Finance Lease liabilities $0.795m
Mine rehabilitation and LSL $3.7m

Total $19.2m.

So the $3.6m they paid off was some of the convertible notes, but some still remained outstanding after the CR. See Note 23 to the Annual accounts. And no, they couldn't have paid off any of the other debts because they didn't have the money, as we know from the Sept qrtly.

The company accounts were also presented on 29th October. It is clear in there what the company has done. Well, perhaps not crystal clear because it is quite convoluted, but it is all laid out there anyway. No, I wasn't at the presentation, but as a shareholder you would have received a set of accounts.

And if you read the Sept qrtly, you'll see that revenue was $364,000, and expenses were $5,348,000, so far from making a profit as you hoped they lost $5m.

Seriously sid, please read the last four quarterlies that the company produced. And the annual accounts. You clearly haven't read these things, which is possibly why you think there is a hope of paying off debts and putting the thing on C&M. There isn't. Sorry.