Ann: Pennys Find Mining JV Update- Third toll treatment campaign, page-6

If my assumptions/ calculation are correct there will be NOTHING owing to Blue Cap as of now!
The 8.5 M should clear any debt to Blue Cap.

Sure there will be Blue Cap mining costs since year end which had been running at approx 2m/mth ??according to the ERL financial reports.
The debt repayment was never based on the April campaign the agreement struck was based on the third campaign i.e March Feb.

My previous facts gathered from various ERL reports
'The total JV borrowings at 31 December 2017 were $9,438,626"
Also in Interim Financial Report
Total repayments made to Blue Cap subsequent to half-year end totalled
$7,330,787 (inclusive of the $600,000 fee).
So BIG question is the current total balance 9,438,626 - 7,330,787=2,107,839
If so then the results of the current milling should put PFJV in the BLACK?