Ann: Restructure positions Calidus for strong growth in cashflow, page-17

I bought in via the placement - not many. I've been extremely negative about CAI. I was impressed by one thing - they did get a year of breathing space. Their reliance on that difficult open pit is down to three years. There is a fair chance of finding something to fill the mill in a few years time. The mill would cost more than double to build today most likely. Current dead duck Pirra has SQM on board. Mac bank could have pulled up stumps and eventually got a fair bit for the mill and the other assets - they are experienced in providing finance and hedging. They have held their noses while extending instead.

I don't think ALK wanted to throw any more money in, or if they did, nothing said by anybody.

However seeing is believing from now on.