A bit of a nothing announcement. Now it’s all about how big of a haircut they will accept to do the capital restructure as you know there’s going to be a large equity injection in one form or another - either at the project level or coy level.
Given the monies outstanding to debt holders now (getting up toward A$300m) I think this has to be $150m + of equity raised and you know it’s going to be at a massive discount to VWAP.
AJM Price at posting:
7.0¢ Sentiment: Sell Disclosure: Not Held
