sp at .30 - prediction, page-16

First of all, it's up to YTC to decide whether to pay back the convertible debt or not.

Second, both facilities are to be repaid 60 months (= 5 years) out from the final deal, that's lots of time to get the plant up and running with Hera and Nymagee shallow ore, and to pay the debt back from cashflow. If things go as pllaned, we are talking about 4 years of Hera production and 2-3 years for Nymagee production.

Third, I am 99% sure we will pay back the first 20 mio - in a worst case szenario, all we need to do so is doing a forward sale for some our gold. If you listen to the recent presentation with parallel comentary by our CEO, it's pretty apparent that they are currently waiting with hedging because (they still haven't gotten the final mining lease and because) they believe gold will go way higher in Q1/2 2013. I, personally, am not convinced of that, but even hedging at current prices will bring loads of cash to pay back those notes.

Forth, the B facility repayment is a little more in doubt, since the price will depend on our SP, so if our SP is high enough it might be preferable to accept the conversion, e.g. because we'd rather put the money in developping our other projects. Still, I'd give it a > 2/3 chance we'll pay back that one, too. Remember, we also can go for a commercial loan if we just need a little more time ...