No one thought anyone would sell spod for $350 t in 2019 but they were.
Even at $1100 T Fob I think here may lose $120m in the first 12 months ramp up.
Wilsons have them needing $150m so I am not over estimating.
The trouble is bear markets have this nasty habit of lasting a lot longer than anyone anticipates.
The priority here should be to protect shareholders invested capital. Currently $955m plus a debt facility of $300m
They really should have done a raise at the recent $1.50 with their 118m capacity still available at around $1.27 would have pulled in $150m ish.
A nice pool of funds to sit out the current bear market.
I am struggling to see anyone wanting to fund the bullet payment in the current price environment, which makes the bridging facility difficult.
IMO
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Open | High | Low | Value | Volume |
83.0¢ | 83.0¢ | 81.3¢ | $1.395M | 1.691M |
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No. | Vol. | Price($) |
---|---|---|
10 | 117290 | 81.5¢ |
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Price($) | Vol. | No. |
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82.0¢ | 71574 | 10 |
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19 | 354333 | 0.810 |
18 | 517040 | 0.805 |
27 | 578679 | 0.800 |
11 | 979563 | 0.795 |
Price($) | Vol. | No. |
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0.825 | 109844 | 14 |
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