It wasn't a loan as there was no indication at the start of season for that price that it was aloan or forward payment or anything other than an opening FGMP, after the fact MGC attempted to claw back some of the that payment on questionable grounds of an overpayment.
Whether you sit on the side of the farmers or the investors it was a bad business play by MGC for using such a high FGMP to woo everyone into thinking the ASX unit listing was going to be a cracker.
A sad and sorry state of affairs all round but to be clear it wasn't a loan by any stretch.
MGC Price at posting:
90.0¢ Sentiment: None Disclosure: Not Held
