The offtake is a smoke screen. They are in despeate need of cash. The Queensland goverment pulled a $20 million loan, when they could not meet the agreed terms. Then they tried to raise $8 million but could only get $4 at a lower price. So they are left to selling tomorrow production at a discount. The real issue is that it cost more to produce then they are selling it, so it's just creating a bigger hole.
That said. I do think Almonty is over priced given the plant is not operational and also think it would be good idea for Mr Black to raise some more cash to advance the plant expansion and the moly.
AII Price at posting:
$2.33 Sentiment: None Disclosure: Not Held
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