The intercompany loan is, as you say, 52 mill vs 57 mill cash. The loan is interest free until then end of '09 and maturity is 5 years. Unusual as it is for a junior to have debt it hardly seems an out of control situation.
Meantime they have cash aplenty to define the resource at Merlin and move through feasibility. Every indication that this prospect will come good within the 5 year time frame...
The intercompany loan is, as you say, 52 mill vs 57 mill cash....
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