1MC 16.7% 0.3¢ morella corporation limited

Ann: December 2020 - Half Year Accounts, page-87

  1. 607 Posts.
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    You also had an horrendous off take with Shan Shan, were saddled with a huge debt at a terrible interest rate, a bad credit history with multiple non payments and covenant breaches, a poor plant that was only capable of 60% recovery rates and with it a high cost of production. And to top it off the on-site accomodation was unfit for purpose and PLS had to put up your staff and contractors when the weather was bad! Embarrassing that you call that success!
    Even with your cornerstone invester you still weren’t going to pay back all of your debt but offer some money and some shares. Not good enough, especially when you look at how AJM share price was trending since jan 2018.
    As for your claim PLS spod is not up to scratch, then why are so many people buying it, including your beloved ganfeng???
    Also read the recent reports released some of your spod was 5.8% not 6% so clearly no better than anyone elses

    ”The wheels of GOD grind slowly but eventually the chickens come home to roost” - do you think that’s how all your unpaid creditors feel?
 
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