Hi ura_bull, sorry I will explain my thinking.
Consider :
1) SK did not take up the option for a discount to LME prices on offtake, which would have injected $80M for working capital up front.
2) LG are attempting to strong arm VW into rescinding their battery development plants (not really a spat between SK/VW but it may be affecting SK's requirements)
3) Immediate $5M required for working capital. I can't help think that this capital requirements is related to the macro environment. We have a new financial guy who is incredibly well connected but when I look at short term discounted CR's I see a lack of strategy and I'd like clarification from the company.
Ann: Reinstatement to Official Quotaion, page-54
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