News: AJM Ningbo Shanshan's Unit To Invest A$22.4 Mln In Altura Mining, page-75

This is essentially a capital raising... dressed up as strategic investment.

I don't think the quarterly is going to be flash hot. Or else why "raise" capital now?


Stage 2 is a pipe dream. 20 million here, 10 million there isn't going to fund a doubling of the plant. The current debt is proving to enough of a millstone now. Nothing said about refinancing it. And they want to go out and borrow more money for stage 2?! Exactly what sort of interest rate do you think they'll get for that?! Especially considering they couldn't get conventional financing for stage 1 and the current concerns about SP6 pricing and oversupply plague the sector... what next, a loan shark?!

We know that a under supply is coming.. but we aren't the people that have $200-400
Million that are willing to loan it to AJM...