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Ann: Change in substantial holding, page-6

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sabine

18,671 Posts.

3919

26/11/19

00:27

Post #: 41626261
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Originally posted by Andyrooo ↑

Yes but $A2.8m of the Rights issue proceeds went to repaying an unsecured loan he gave the Company during the Sept19 quarter. Considering there was only $A1m in cash at the quarters close, it could be said he saved the Company. Quite amazing.

Interesting looking at the Company's last cashflow report, they disclosed estimated cash inflows for next quarter (they normally only show estimated outflows).

Cash at Bank 1.098m
Estimated inflows 45.427m
Estimated outflows -35.173m
Rights issue proceeds 9.155m
Unsecured Loan repayment -2.8m
Estimated Cash at Bank at end 17.707m

Mate, if they achieve those numbers then the Q3FY20 Interest payment is covered, plus they frank future profitability making refinancing a definite.

I can only assume that the Estimated Inflows account for the Ganfeng prepayment referenced in Egeria's post last saturday:
https://hotcopper.com.au/threads/an...ntrate-cargo.5090359/page-30?post_id=41592787

No wonder they were so rapt about shipping to date, as mentioned in Comdivers AGM wrap up:
https://hotcopper.com.au/threads/ajm-agm-and-future.5090973/page-5?post_id=41584421

It looks like we'd only need one more big shipment before the end of the CY to hit the mark.

Up to a month ago I didn't think AJM would make it. Now I'm invested. Go AJM.

Expand

Here’s a picture from that cashflow report to illustrate what you just said Andy ;
The position does look much more secure - especially with talk from the AGM of refinance before the end of the year (which I can’t source right now ).
Cheers

AJM September 2019 Quarterly Cashflow Report

Last edited by sabine: 26/11/19

AJM Price at posting: 5.9¢ Sentiment: None Disclosure: Held
23 Upvote

2 Great analysis

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Ann: Change in substantial holding, page-6

Olam Agri raises Namoi takeover offer to 75 cents a share and receives shareholder backing

Utah authorities sign off on Anson's lithium extraction plans at Green River

Mako sniffs gold at 170 g/t at Cote d’Ivoire's Napié play

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Vulcan appoints investment bank and M&A veteran to board

Medallion Metals kicking off 15,000m drill run at Ravensthorpe gold play

Dale Gillham's weekly wrap: US fracking support boosts outlook for Australian gas stocks

Metals Australia kicking off plant study at Lac Carheil; Canadian tariff tailwind potential

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Antipa divests its Citadel interest to JV partner Rio for A$17M, refocuses on Minyari Dome

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Ann: Change in substantial holding, page-6

Top Stories

Olam Agri raises Namoi takeover offer to 75 cents a share and receives shareholder backing

Utah authorities sign off on Anson's lithium extraction plans at Green River

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Enova Mining unveils "high-grade" REE drill hits at Coda North, Brazil

Vulcan appoints investment bank and M&A veteran to board

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Dale Gillham's weekly wrap: US fracking support boosts outlook for Australian gas stocks

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Week 37 Wrap: HotCopper likes Cuban oil; markets shrug debate off for Putin; firebrand quant says social media a market threat

Antipa divests its Citadel interest to JV partner Rio for A$17M, refocuses on Minyari Dome

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