you’re spot on that I haven’t gone into detail for finance. Under the debt agreement of $550m I think it’s unlikely that they pay 80% interest so as to operate at a loss; at least give the board credit that they can secure finance at a somewhat competitive market rate. Even assuming an 11% pa, total payback for amortisation is around $675m, achievable within the first 3 years of production. Now if significant economic setbacks delay loan repayment then this can definitely impact SP.
im not discounting the possibility that GH makes a play either, but no chance an offer ever gets accepted sub $2 given the $365m placement at $1.80. Regardless of current market conditions it would likely need to be closer to $3 for SH approval.
Lithium market peer analysis - SP Outlook Analysis (Short/Med term), page-4
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