that's what they said but they haven't met any of the staged milestones to date so why would they start now? I get it that most new mines will have teething issues and will struggle to be cash flow positive in the first 6 months after commissioning but the issue AJM have is they are also over budget by circa $40M with only $10M in the bank. Not the first project to be over budget and behind schedule I grant you but they are not backed by a multi billion dollar larger group and they only have one income stream.
PLS were so smart with the DSO that has papered over a lot of cracks in there commissioning and sales. Plus they were only a month behind schedule and being over budget doesn't matter because it's covered by the DSO profits.
Anyway back to AJM the market is now saying we don't believe you will hit nameplate before christmas like you are saying and we don't think you will have enough cash to keep going without a CR or more debt. To be honest the market has been telling is for a while that all was not well but I wasn't listening I had my AJM coloured glasses on. Well my eyes are wide open now after the quarterly cash flow and I'm not risking hanging around to find out what happens this quarter.
all IMO and each to their own on their personal risk profiles.
AJM Speculation, page-264
-
- There are more pages in this discussion • 75 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add 1MC (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
0.3¢ |
Change
0.001(20.0%) |
Mkt cap ! $18.53M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.3¢ | $3.621K | 1.257M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 121 | 181496973 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 20055545 | 43 |
| Last trade - 15.53pm 04/07/2024 (20 minute delay) ? |
| 1MC (ASX) Chart |
Day chart unavailable