Ann: Proposed Debt Refinancing, page-72

Yeah, I know what you mean - as a S/H, I was drawn to the criticisms first, but then there's these assessments:

(I'll paraphrase to preserve copyright)

*AJM's lower opex compared to peers.
*Future higher production will improve cash generation
*Long mine life
*Credit rating to improve as volumes increase
*Imminent bond issue will address debt and provide liquidity
*AJM has raised equity from strategic partners interested in securing products reliably

That's a well rounded set of positives IMHO.

I think Finch *have* to be open about the risks to cover their bum, and it seems the rating of CCC+ we have been given is a default one as a "Long-Term Foreign- Currency Issuer".

DYOR - GLTAH