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4.1¢ morella corporation limited

Ann: Deferral of Fin Rep Obligations/Ext of Time to Hold 2020 AGM, page-62

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Rupfel

10,565 Posts.

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16/11/20

22:25

Post #: 48915626
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Originally posted by Sjlasx ↑

Very difficult to have a meaningful discussion about PLS shipments to Ganfeng without acknowledging that AJM was selling to them at pricing well below the contractual floor... cannot even come to agreement as to whether the floor price held.
I get the impression many believed it was foolish for PLS not to heavily engage in chasing pricing downwards.
If you want to acknowledge reality then we can discuss the shenanigans that occurred around xmas last year and the pricing AJM got for their subsequent shipment to Ganfeng in January.
The pricing for that one is easy enough to ballpark considering it was the only one in Q3FY20 and any minor adjustments from the customer upon delivery in China would have taken place during that Qtr.
But alas that would also require an acknowledgement that AJM has terms similar to the rest of the industry and not 90 or 120 days.

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The grey area in the puzzle was where was Ganfeng getting the 70 million from which was to make Ganfeng a cornerstone investor in Altura from media and threads on HC if true?
My thought was backpay on spod already bought under the terms of the contract and floor price.

AJM Price at posting: 7.0¢ Sentiment: Hold Disclosure: Held
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