AJM Speculation, page-121

It's not a lot of debt in the scheme of things.   Using Macquarie Group spodumene price calculation they infer debt could be paid out in 2 to 3 years.   

Furthermore, across the road MIN is spending $610M for 3 spodumene trains for 750K/t year on year.  EDITDA over the long run looks to be around $500M.  They also have 49% sale to bring in a strategic partner, price range is $1.2 to 1,6B.   So when l look at AJM with a 15 year mine life half that of Wodgina, its a BARGAIN.   Stage 2 will add significant value to the asset.  I am very confident with a payback period of only 2.5 - 3 years it will get the green light.    

Disclaimer: l hold shares in MIN, GXY, PLS,  NMT and now AJM