One more thing, though I like that MC decided to repay 13 M loan early, I also feel that management sometimes is over confident on the finacial position of the company (or at least that is what they are trying to portray)
The 40M loan was meant to be just a buffer and to satisfy ASX listing requirements, it was negotiated in a short time and has a high interest tag. Due to a combination of poor mine performance/ Jiangte not taking shipments regularly/ merger cost, now it has been fully drawn and seems more like a life line for the company.
There may still be hiccups in the mine, and lithium market is still fluctuating, hence the risks. But we know much less about the mine and the market than MC, so lets wait and see whether his confidence is real or just salesmanship. Excited to see the next quarterly report.
A40 Price at posting:
18.5¢ Sentiment: Hold Disclosure: Held
