As the economics of the project decline the refinancing is much harder, and the opposite is true. If the price of spod keeps going it will be harder for them. Esp given the floor is for 3yrs and not a qty so the longer they take to get to full capacity the longer they eat into this time. (Which as long as Spod price is above 550 doesn't matter anyway). But te4h poor sentiment in the sector, along with covenant breaches regardless of acceptance (for now) from the Note holders) it should prove difficalt at this stage you would assume. But who knows what the future holds
AJM Price at posting:
9.6¢ Sentiment: Sell Disclosure: Held
