my only concern was this quarter and how they were going to get through with no cash injection and avoid trading insolvent. That's gone now with the $15M upfront. I think this proves that management can get a deal done and their product is wanted so they don't need JRO now and if JRO want to pull out alltogether then go ahead and GFL will take your 16% holding as well.
Consistent nameplate is the next target and if that happens in the March quarter then they can refinance the debt on more favourable terms very quickly.
stage 2 FID and offtakes will flow from there.
all IMO
AJM Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
