The debt is just so great, and accumulating even with good shipments and good management, that I don't honestly see any way out of it without going into voluntary administration (VA).
Although I keep hoping for a solution, I'm at a total loss to find one - it's depressing.
And the problem with VA though, depending on the receipt of an acceptable financial restructuring proposition, is that the administrators can agree to ditch all shareholders based on certain restructuring scenario's and offers received - in other words, shareholders can get nothing.
Maybe they should have drilled for gold earlier, and then sold off the gold company to pay back the Lithium debt. Hindsight is a wonderful (though often useless) thing.
Gw
AJM Price at posting:
7.0¢ Sentiment: None Disclosure: Held
