the question is how much more debt will the current debt holders be comfortable for MIN to draw down.
The interest bill alone at weighted ang of 8.5% (as per weighted avg in HY) would be about $450mpa going forward at current debt levels
. What would their ICR or net debt / EBITDA (less sus cap ex)be, going forward as the market stands now.
I don’t think there will be any meaningful dividend paid for some time either
once you sit back and actually go through the numbers, the situation is nowhere near as the share price reacted today.
Mind you the p/e Ratio based on underlying profit for Hy 2023 is close to 30 and we know the IO and lithium prices were in a different stratosphere for the most part during that HY
I’ve never seen anything like this since early march 2000
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