AJM Capital Raising, page-30

The $150m + AUD?

The article mentioned $161m USD but as at end of October it will be close $172m USD, or around $240m AUD, and I wont be surprised if there is a waiver fee involved to get to the end of October.

Lets say $150m AUD, they are going to need to keep cash on hand of say at least $30m AUD, so they can get the debt down to around $85-90m USD.

If debt to $30m USD (that was mentioned) then that's a CR of some $230m AUD plus fees to also give them the working capital they need.

The lower loan amount can then be financed at 5-7%. Hence need the working capital also.

All quite doable, but as you say at what cost?

Going to be a fair few fees being made here, but AJM survives and that's good.

With a bit of luck the market turns rapidly and before you know it the dilution is long forgotten.