If they do manage that, the debt conditions will be ridiculous due to the risk on the development of Federation.
I'd say they are more likely to have to tap the market with a cap raise, but that is very unpalatable to shareholders
Bad debt or Dilution? Maybe a bit of both. Either way these guys are trying to work their way out of a real problem.
Let's hope they come through this with some good news.
Ann: Dec 2022 Half Year Financial Results Announcement, page-16
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