By my figures, they can repay this quarter's interest payment.
And just possibly next quarter, if they scrip and scrap somehow.
This takes us to September 30.
But it looks very unlikely they will have enough money to pay the December 31st interest payment.
Which means to me they need to find some cash (more funding or capital raising) prior to this, probably in November 2019 this year.
If this is the case, and the market further worries about the finances, then this will continue to go lower, possibly down to 5c or 6c.
Gw
AJM Price at posting:
11.5¢ Sentiment: None Disclosure: Held
