Thanks for bringing this up Paul - it is one of the key risks hanging over CTP and agree that positive newsflow on this would derisk CTP significantly...with significant shareprices movements to follow as you note. It's less of an issue as the shareprice increases as the debt to market value of equity reduces. When it was at 8 cents, debt to market equity > 100% which is never comfortable but did provide great leveraged returns.
The key risk for me is that MacQ wanted to takeover CTP and could use their debt position to make another attempt by making life difficult for us. In saying that, they may decide to refinance on flexible terms but it would great to end that relationship and obtain something from a commercial bank.
Has anyone ever raised this with management? Still over 2 years away but good to think about.
CTP Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
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