hi, page 60 of Annual Report highlights expiry terms of the two...

hi, page 60 of Annual Report highlights expiry terms of the two debt packages as being 2018 and 2023 (not 2022, apologies for mis-type in prior posts). And in speaking with some guys at AGM re repayment of principal, it was confirmed that lenders have effective control of these payments until 2018 at least. And when you look at the numbers, it becomes sort of obvious I suppose .... Redbank's running EBITDA = $26m (if the plant is working properly), Interest Costs $17m, Cap Ex has ranged from $2 to $12m over last decade, so call it $6m, leaves $3m per annum to pay off the outstanding debt balances within the allotted time frames. not an easy scenario to work with.