Option is very limited for PLS in the current condition. Single mine, design fault or was it just teething recovery problem, a big debt that needs to be service, falling Spod and reluctant customer to continue off-take agreement. Another Insto community raising walked out on Slater today, unrelated but probably explains the cap raising conditions generally speaking.
At the time of FMG problems, their bond yield spiked up as the spread differential with stable Govt probably made it attractive for those willing to take a punt. FMG if I recalled used a lot of discounted pre-payment to 'tie' them over in those distressed times in addition to having assets at their disposal like the rail infrastructure and power station.
PLS option now appears to be monetising equity through holders. I'll be interested in what MIN will do.
PLS Price at posting:
35.0¢ Sentiment: None Disclosure: Not Held
(20min delay)