In the quarterly report, it states "Interest on the Kerogen facility will be reduced from 18% on 16%, backdated to 24 April 2023 if theoutstanding balance on the Kerogen loan (excluding deferred interest) is reduced to below US$40 million". The Kerogen loan balance is US$41.3 million. AJL should be able to repay $1.3 million to Kerogen within 2 years and get the 16% interest rate back dated.
16% interest is still high though.
AJL Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held
