Ann: Extension of time to convene second meeting of creditors, page-81

Thanks dfs1, for some reason I can't tag you.

Okay $50 mill. It's now confirmed I had a bad Saturday morning, as my ROI calcs only factored in a $20 mill plant fix, and I forgot to factor in a few other items such as working capital, paying out unsecured creditors, etc. Therefore, ROI is ~AUD$16.5 mill pa based on 200kt output, but once again, that does not include a hurdle rate (discounted cashflow) to manage risk. Pretty obvious, but I will sya it again, that is why

That last point is the exact reason why AJM could not refinance debt.While I'm sure most Oz producers would be happy to see $16.5 mill pa in free cashflow atm, what's ahead for the sector over the next decade, size remains very important, particularly when you factor in the importance of product consistency and capacity to supply it in large volumes for a long period.

I was invested here for a short time, bailed with small loss, only small allocation. What was I thinking, took a punt, shite happens. As you would be aware, I have both long and short term holdings next door, making multiple short term trades over the past 3 years, but over the past 2 months I have only added to my position and am now long. Short term trades have been very good to me, thus no complaints from this little black duck.