It is very hard to imagine a lender considering further funding to an entity in this predicament. I think they are planning for VA if you read between the lines on this ann. At least 50% chance they pull that trigger within 1yr.
Some may say it is darkest before the dawn, but in this case, the sun is just setting. Two more qtrs and they are out of cash, revenue down 50% while costs down 20%. This is not sustainable. More tonnage means little if it cant turn a profit.
If capex for expansion is optional (which I doubt it is), why not halt it to avoid liquidity issues and to avoid having to announce to your shareholders that you are on the brink of insolvency?
From what they have flagged here in this ann, I wont be considering an entry in the next 12 months. There is much more to be seen here.
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