No one thought anyone would sell spod for $350 t in 2019 but they were.
Even at $1100 T Fob I think here may lose $120m in the first 12 months ramp up.
Wilsons have them needing $150m so I am not over estimating.
The trouble is bear markets have this nasty habit of lasting a lot longer than anyone anticipates.
The priority here should be to protect shareholders invested capital. Currently $955m plus a debt facility of $300m
They really should have done a raise at the recent $1.50 with their 118m capacity still available at around $1.27 would have pulled in $150m ish.
A nice pool of funds to sit out the current bear market.
I am struggling to see anyone wanting to fund the bullet payment in the current price environment, which makes the bridging facility difficult.
IMO
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Open | High | Low | Value | Volume |
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