Ann: New Financing Package, page-125

DYOR but the real positive I see out of this is the potential for stage 2 to be completed. If no interest payments need to be paid then revenue can accumulate to cover the capital needed for stage 2. The loan is fixed but the cashflow to pay off the loan would be doubled with stage 2. If the virus cools off later in the year, China implements a stimulus, and European and rest of world growth of EV's continue then AJM now has the flexibility to take advantage of the uptick in Li consumption and / or pricing. That is a far better situation to get a favourable refinancing. They have 3 years to achieve this ramp up, which is arguably a realistic timeframe.