it was $110m (US). We do roughly $150m ebitda (US) in 12 mths at full production getting top end of our offtake terms. Its a 3 yr term, 3yrs ending Sept 2020. I think we will be ok to pay it off from cash flow if we want, but there will be competition between paying off debt and funding stage 2 from earnings.
Off course I would prefer 6.5%, my only point is that despite the high % number, its actually not as bad as I think many people assume, because its short term - short term finance will always come at higher cost
AJM Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
