They will struggle to refinance the big debt with such a cloud hanging over their cornerstone offtake partner and major shareholder.
With $10m of interest around the corner it is my opinion that there is a high probability of an equity raising and it could be significant dilution if done at mid 20’s. All in my opinion however... they could always get a ship going late August which could ease cash flow issues temporarily.
AJM Price at posting:
29.5¢ Sentiment: None Disclosure: Held
