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3.0¢ morella corporation limited

Ann: Non-Renounceable Entitlement Offer Completed, page-79

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Stuman1

967 Posts.

178

21/11/19

20:33

Post #: 41565190
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Originally posted by Sjlasx: ↑

AUD16m loan payment due in February.
The issue isn't with the quality of the concentrate.
The issue is with a level of debt that clearly exceeds the company's ability to meet its obligations without frequent cash injections.
The Ganfeng prepayment has also made life difficult for AJM considering they are likely the largest current offtaker and are reimbursed 30% of the shipment to clear the prepayment.
I understand some posters have referenced some payments for shipments that were not received in late September, but on the other hand with only a $1m cash balance at the end of the quarter and the need for a director to facilitate a loan as an early payment for the rights issue raises questions of whether some bills were pushed a week or two into the Dec Quarter. That is the difficulty of assessing cash flow statements.

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is it clear? I think it is not as cleAr as you suggest. you are clearly being selective in the information you are using to suit your foregone conclusion. clearly the latest cap raise was not ideal ( would have been great to have raised sufficient the previous round at higher prices). the SP has been punished for that blunder clearly. still a couple of boxes to tick but given they do we are in for a healthy reversal. clearly.

AJM Price at posting: 6.1¢ Sentiment: None Disclosure: Held
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Last 3.0¢		Change 0.001(3.45%)		Mkt cap ! $8.789M

Open	High	Low	Value	Volume
2.9¢	3.1¢	2.9¢	$4.747K	158.2K

Buyers (Bids)

No.	Vol.	Price($)
4	355350	2.9¢

Sellers (Offers)

Price($)	Vol.	No.
3.0¢	7059	1

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No.	Vol.	Price($)
4	355350	0.029
4	103606	0.028
3	134687	0.027
1	35000	0.025
1	50000	0.021

Price($)	Vol.	No.
0.030	7059	1
0.031	637467	5
0.032	39281	2
0.033	41913	2
0.034	269773	1

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