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clock Created with Sketch. 31/10/23
12:19
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Originally posted by fup:
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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
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They might of extended it because the alternative is to wind up the company and write off the debt. I'm doubtful achieving scale will solve their problems as a big portion of the cost is variable and can't be solved without a bulk transport solution. No doubt the lenders are reviewing the financials and the trigger for an uplift will be obtaining debt finance.
(20min delay)