I'm very much a copper bull and don't panic when I see C&M for an unprofitable mine. However, the terms on the finance are insane. AIS will be lucky to survive the next 12-18 months with those arrangements.
At the very least, they will probably have to cap raise at low prices to service this horrible debt arrangement for massive dilution. Management appeared to have entered this arrangement out of sheer desperation. I'd love to see a few sackings, they are destroying shareholder wealth and driving AIS off a cliff imo.
I wonder if the big boys are cannibalising the operation intentionally. Taking advantage of low quality management, driving them into debt and dilution to obtain a greater stake.
Ann: Q4 RESULTS AND COMPANY UPDATE PRESENTATION, page-23
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Last
22.5¢ |
Change
0.005(2.27%) |
Mkt cap ! $217.6M | |||
| Open | High | Low | Value | Volume |
| 22.5¢ | 22.8¢ | 21.5¢ | $464.4K | 2.093M |
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| No. | Vol. | Price($) |
|---|---|---|
| 7 | 245097 | 22.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 22.5¢ | 153347 | 3 |
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