This company is becoming one hell of a joke now, Directors are just going to milk it dry. And to think we actually have binding offtake agreements…..or do we? Was discussing ADN with an ex investment banking manager friend of mine, gave him a fairly accurate set of figures based on what we have been told, including BOA’s etc and the supposed profits and pay back times and so on, back of the envelope figures based on 80% ratio he said the a loan of $100 million should not pose a major hurdle even on our local banks. He did say it is likely that there would be a possible 3% added for risk factors. Given that it appears that the contracts are pay up front and for longer term what is the go Higgins and co, purely out of their depth with the overseas companies just putting the screws on ?
ADN Price at posting:
0.7¢ Sentiment: None Disclosure: Held
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