They have about 160M USD left in the bank after paying out 300M USD of CB's. So why would you need to call in the administrators?
There are 274M USD of CB's due in almost exactly 2 years time, hard to see the urgency BJ. The company has shown their ability to raise capital over the last year or so, what makes you think they will not be able to in the future?
Some good points in the last QAR: Stock held back for sales in the current Q, Bicarbonate Recovery Plant operating at above nameplate design - extra benefit to C1 costs.
Ann: Ceasing to be a substantial holder, page-68
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