Brokers missed the boat

Hi guys just wondering how brokers will handle the strong likelihood they will need to buy on market…With the short term bridging loan and ships now being loaded the company will receive 80% of consignment value once loaded onto the ships.

With the next quarterly report more than 5000 tons already produced and waiting at the port it is unlikely a further raise would be required. The company has indicated they will refinance at a lower coupon rate with the trigger for security of first sales achieved…At an average of US$1400 per product ton and along with expected further production it is likely by quarter end some 14000 bags will have been delivered

I can see why the desperation levels have increased where buying on the market maybe just the only option for brokers now…

If the company decides to refinance early the company will most likely borrow more funds as per the 5 million cash injection for buy backs…Interesting times for long term holders

Regards Croc