Worst case the plant is marginally profitable and the debt holders demand script or a big cap raise to repay them. Even under those highly improbable circumstances this would be valued above 5 cents per share. It just doesn’t seem at all plausible that the plant is so far off solid results with the information at hand. When you step back and look at the macro economics the risks look even smaller. The question is really how much upside there is, is it modest or potentially many multiples, not whether this can fall much further (which I doubt).
AJM Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
