The 6 million cash is a loan. They are working on borrowed...

The 6 million cash is a loan.
They are working on borrowed money.
Loan matures 2018 unless this has been changed since 2015.

Mr Tim Netscher commenced as a Non-Executive Director and Chairman of the Board on 1 November 2015. Mr Netscher replaced Fiona Harris who elected to retire for personal reasons. Mr Netscher is a highly respected professional director with substantial experience in the mineral resources sector. He is currently Non-Executive Chairman of St Barbara Limited, and a Non-Executive Director of Western Areas Limited, Gold Road Resources Limited and the unlisted Aquila Resources Limited. Mr Netscher is a chemical engineer by background, has a distinguished career as an international mining executive and has extensive hands on operational and project development experience. Using the proceeds of the $6M interest free loan provided by The Sentient Group the Company repaid the remaining $6M of the $12M Macquarie Bank Loan. The Sentient Loan matures in August 2018. The Company’s 2015 Annual General Meeting was held on 18 November 2015 with all tabled resolutions passed on a show of hands. Shareholders and guests received a presentation from Managing Director Dr Vanessa Guthrie outlining the Company’s focus on continuing to advance the Wiluna Project and seek strategic funding partnerships. The quarter end closing cash balance was $13.4M.