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clock Created with Sketch. 24/01/24
21:09
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Originally posted by wasko:
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The financial position of this company has never been great, it's been called out on here over and over again that CAN is in a debt spiral and what's happening now is the final phase. Despite substantial debt repayments over the last 12 months the size of their debt has increased. The deal they've entered into to raise capital is really bottom of the barrel stuff e.g. where a company turns to when more respectable lenders have turned their backs. The SP will continue to set new all-time lows while the lender dumps their discounted shares on market. The minute NAB suspects they won't be able to continue to raise capital they will call in the receivers.
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I can only assume their 4C figures are terrible and the numbers are leaking (?), or as the 4C is this late, the market is factoring in another poor quarter. No doubt we will see next week.
