LMG has a Mc of $100m with $10m of the $23m loan drawn as of dec 31st and HAD $7m cash and (NO plant or production ) IMO they should do a $10m raising b4 drawing on their loan b4 the tax rebate comes in
Vs
ADN $133m Mc with cash of $23m with a build cost of $60m . Looks like LMG are hoping to snag a few allocations in the Feds critical minerals funding round of $50m that closed about 2 weeks ago. I wonder if ADN have applied ?
.... ADN still has to go through this stage but we are sitting on cash and we need all those long lead items purchased NOW
Will ADN raise soon at under 5c to bolster the book and they take a loan to finish off the plant ??? This plan is unclear and this is why ADN is where it is !
Ann: Results of Concrete Decarbonisation Study, page-165
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