Not investment advice.
The exposed bet here, is potential administration. Any further entry price can be a fatal loss of capital.
Betting on a rabbit out of the hat, to life support. They need to offload expenditures into a JV. Will they do that ? or just implode with a lower Mercer floor?
How many days do they have left ? are they potentially already trading insolvent ? What is the creditor level not paid in the previous Q ?
Not transparent.
Better bets elsewhere.
Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-64
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