I still can't understand this line of thinking. Let's look at...

I still can't understand this line of thinking.

Let's look at the numbers. If we take the original DFS we needed US$185m or A$253m

Let's say we still took the current debt package of US$200m and we were allowed to use debt to finance debt.

We would have needed US$185m for capex + contingency
We would have needed $185m * 7.75% * 1.5 = US$21.5m in interest payments
We would have needed say US$5m in G&A
I would have liked US$10m in exploration
I would like US$10m as wriggle room you would think.

That totals US$231.5m or about A$315m

We got $273 from debt, we are estimated to have $28m at end of this quarter. So that is $301m.

So I would say $15-20m was the minimum raise needed to keep things smooth and that's without considering expanded capex. I can't see this being as excessive as you say it is?

AIMO