Ann: Calidus on track to meet FY24 guidance, page-19

A breach of debt covenants would force their hand for an equity raise. Hypothetically should this eventuate and not be approved by shareholders (not sure I’ve seen this before) it’s been noted on many occasions Macquarie are way more invested with the hedge as it stands. So don’t agree Macquarie totally have the upper hand.

From listening to a few Money of Mine podcasts I recall a few gold companies have come in short on their DFS ie shi!t happens and don’t see a conspiracy here as others may have alluded.

If they can make the 2024 guidance (this should put to bed further arguments around the integrity of management). Either way CAI has way to go and IMO is def not dead in the water.