There's no reason to believe that suspension will be lifted until the plant is in operation and ramp-up to profitable levels is a near certainty. If the business has no prospect of achieving profitability, the creditors will appoint receivers to recover what they can. That's pretty clear from the announcement of 14-Jun-2023 when the stock was suspended:
- The lenders have stepped in with up to $10 million in extra cash in two tranches, but in return have demanded that the company's future be placed in their hands.
- The lenders are assessing progress and will only provide the second tranche if they are satisfied with progress.
- You can be absolutely certain that if the lenders decide that the "strategic process" or the "current ramp up performance" are unsatisfactory then they will appoint receivers.
Here is the relevant part of the original announcement:
- Forums
- ASX - By Stock
- KLL
- Ann: Request for Extension of Voluntary Suspension
Ann: Request for Extension of Voluntary Suspension, page-27
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