Lithium prices have continued to be depressed. AJM has not yet...

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.