This is getting a tad tiresome. Read QF's ASX statement from yesterday. They didn't claim to have the $1.6 billion in undrawn facilities as cash on hand - that seems to be your mistaken interpretation.
QF state quite clearly that,
You are technicallly correct, they are stating $4 billion of liquidity. Which as I said includes $1.6 billion of undrawn debt, the result is the same as i have explained, it changes nothing that has been said since. If they wish to convert that option into actual cash, it will increase net debt.
If you are getting tired you should take a nap, rather than harping on about semantics.