Ann: Quarterly Activities and Cashflow Report, page-13

If raised today I would say 10c is not an unreasonable price.
I can't see the need for heavy discounting. A 5% discount should be enough given the AAM raise in Germany this November will value ATC's SP at ~ 20c.
Today's 3m buy order may well be an attempt to increase the 15-day VWAP to 10.5c. Will will see.
The Macquarie loan approval is the other sleeping elephant in the room. Its been sleeping so long the market is bored of 'an announcement expected soon' .
The however the reality is it could come at any time. If it does come prior to a CR the SP will respond by who knows how much.
As a long term holder, I think a fair price is around 16c. Others may think it's 8c.
IMO the positives far outweigh the negatives and the positives over the next 3 months may reach critical mass .....