still dont understand why they didnt raise when this was above...

still dont understand why they didnt raise when this was above 15c. could've equity funded the whole thing to stage 1.5 and not have to worry about the cost of production, sourcing debt etc. obviously these guys are considering their own position as large shareholders and not having enough money to tip in or diluting themselves out. instead we get dragged along for the ride (or die) to debt financing land. if i was in the country for the agm i would absolutely be asking them what the hell they were thinking

the EFA facility only got extended for 6 months to march, seems weird to only go for such a short time unless they were expecting to get a larger facility by then. i'm sure it would only be secured against trade receivables which is why the rate is so high, this security would be a pretty standard carve out by way of intercreditor deed with another lender for the project financing, it's not a big deal, i'm more curious about the length / timing. the fact that the facility limit is pretty much the same limit as previous means it's been rolled over to a longer maturity. if they were forcing cxm to repay they wouldn't have extended it or adjusted the limit to = the outstanding balance.

if u believe the report that next quarter's sales will be 40,000t at $327AUD as calculated by LD99 then that's $13 million, a big number notwithstanding most of it will be eaten by operating and production costs, still not getting close the the world bank price and the company needs to explain why this is the case.