Lithium prices have continued to be depressed.
AJM has not yet illustrated it is cash flow positive.
AJMs rights issue was significantly undersubscribed (only raising $9m of proposed $22m)
AJM downgraded sales estimates for the quarter to 40,000dmt.
AJM have an interest payment ($14m) in just a matter of weeks.
It’s hard to imagine based on the above that AJM has any bargaining power - they are no doubt desperate for cash and running on an oily rag, with the quarterly cash flow rpt due in a couple of weeks it’s likely showing insufficient funds to pay next months interest payment. I cant imagine they’ve got the leverage to strike a better deal than they are on but here’s to hoping.
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Open | High | Low | Value | Volume |
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---|---|---|
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Price($) | Vol. | No. |
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3.0¢ | 10583 | 1 |
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4 | 442579 | 0.028 |
1 | 61938 | 0.027 |
1 | 100000 | 0.026 |
5 | 280423 | 0.025 |
Price($) | Vol. | No. |
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0.031 | 295524 | 4 |
0.032 | 92168 | 2 |
0.033 | 378549 | 3 |
0.034 | 270000 | 1 |
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