To clarify further - the loan was secure by the forward sale of tin hedge worth $12.5 million. Renison was never used as security but the tin produced from Renison was hedged and forward sold to City.
3,310t of Sn was sold at $25,000/ton on 18 September 2019.
MLX Price at posting:
44.5¢ Sentiment: Buy Disclosure: Held
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