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
No one thought anyone would sell spod for $350 t in 2019 but...
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Last
62.5¢ |
Change
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Mkt cap ! $1.515B | |||
| Open | High | Low | Value | Volume |
| 62.0¢ | 64.5¢ | 61.5¢ | $9.865M | 15.67M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 230271 | 62.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 63.0¢ | 56900 | 4 |
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