@frmen1 I think it is a slight positive as 8.75% is more normal...

@frmen1 I think it is a slight positive as 8.75% is more normal a cost, vs the ridiculous 20% some of this debt is costing us. As to whether or not this provides AJQ with a few extra dollars to spend on drilling, you would hope so given they have on issue around $40m of Convertible Notes. By the time they pay the extra interest, extension fees, increased early redemption fees and no doubt FIIG's costs etc, we might see $10m is my guess. Happy for someone else to dig away and work out the exact numbers and correct me, but I am comfortable with that estimate.

I will correct the Company Secretary and state that the $55m is not a Capital Raising, it is a debt facility (loan) and is not in anyway Equity.

Hope the FIIG boys and girls can raise the cash and the AJQ contractors can get on with drilling new wells and connecting 5A for a start so the cashflow grows as the interest bill is still around $5m pa on this facility alone.