Hi Mooroolbark -
Lets look at cold light of day facts:
- Aurora have a take-off agreement with CAN
- CAN are hoping to use the revenue stream of this take-off agreement to securitise a bank loan to build a cultivation facility
- Aurora have terminated construction of their new facilities as they already have surplus cultivation
- Aurora has lots of surplus stock every quarter that they can not sell (They cultivate > 3x what they can sell currently)
- Bank's lend money when they are confident they will get repaid
- CAN are relying on Aurora to buy their cannabis so that CAN can pay bank interest
- Aurora have no need for more cannabis so will not buy it
- CAN can therefore no longer pay bank loan interest
- CAN can therefore no longer secure bank loan
- CAN can therefore no longer build the Mildura facility
As I said - the probability of the bank approving the loan is between zero and none.
Ann: Staged approach to Mildura facility and bank facility update, page-47
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