1. Its Paladin not Padadin and it was in an industry (uranium) that was completely on the nose to almost everyone after the Fukushima nuclear power plant disaster. Yellowcake prices went into free-fall. Paladin traded spot market and short term contracts so when uranium prices went into free-fall they could not meet debt etc payments.
2. There are currently 2 BOAs. Altura has floor price of USD550 and by memory a ceiling price of USD950 for the first 3 years on both BOAs.
3. Both parties are obligated to take 100,000 tonnes per annum for the first 5 years which is essentially nameplate capacity Stage 1.
4. Yes current long term debt is approximately AUD172m (March quarterly) however the debt is not due and payable until August 2020. The company has the option to capitalise interest until August 2020. Hence why the increase in debt level from FY18 to the March quarterly. I have no doubt the directors of the company will pay down some debt as the company becomes cash-flow positive and look for re-financing options in the meantime as I do concede the interest rate is high but like any start up venture its rate for risk.
5. The key thing to look out for at the moment is any breach of financial covenants. I would assume no breach has been made at this point in time as it would constitute a default event and the ASX would have been notified.
6. Nameplate capacity will be reached. I have no doubt in that. Up from 70% at the time of CR to 86% as of May. My guess sometime in July.
My issue with you is:
1. You claim to hold Sayona stock and yet are rubbishing the company and saying the Canadians are "stark raving mad" if they approve Authier.
2. You claim to hold Orocobre yet say and I quote " Isn't production from brine obsolete as it is so environmentally destructive. Why has this company not been shutdown?"
Mate, go back to your comic books and crayons. I've wasted enough time on you.
