The shorts are not suckers, they have an angle that should be respected considering 8% of the shares are being shorted.
My guess is the $300m senior secured bank loan due for full repayment 31st May 2024. Based on the last 2 quarterlies low net cash generation its hard to see how the company will be able to make payment and maintain working capital. I am surprised the company still spending so much money on Mcphillamys and not controlling its cashflow better. If things continue that repayment is going to come out of the share holders through a big cap raising.
Ann: Change in substantial holding, page-5
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Last
$1.76 |
Change
-0.055(3.03%) |
Mkt cap ! $1.329B | |||
| Open | High | Low | Value | Volume |
| $1.81 | $1.81 | $1.75 | $10.67M | 6.020M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 13179 | $1.76 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.77 | 35807 | 2 |
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| Last trade - 16.10pm 03/09/2024 (20 minute delay) ? |
| RRL (ASX) Chart |