I did work on the bonds last night, as you can see the May 27 is trading at 97.5 with a 9.6% yield to maturity; given where other bond spreads are for corporates its not trading with any stress at all. So everything is fine with the Mins balance sheet and with refinancing as far as the bond market is concerned. If there was any stress it would likely should up in the bonds trading at a big discount eg 70 cents or less. So definitely no capital raise and no balance sheet stress. Mins going to print a lot of cash from may 25 with costs beating big on Lithium, profitable, and iron ore at 33 m t pa. Going to re rate to $30 fairly quickly in my view.
MIN Price at posting:
$20.57 Sentiment: Buy Disclosure: Held
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