thought this one was a day at the races, but given operating business and can reduce debt , think more than likely banks will continue to support. Much like Burns Philip which initially cost me a heap after spice disaster , but as had cashflow could limp along & I ended up getting 10 plus bagger from ones I picked up at bottom - overall still for me ranks as one of my best ever gains.
real sleeper here is what the carbon tax that was never going to be introduced will do. east coast power wholesale prices have spiked - this is sustained will lift value of plant and or cashflow. given equity is so lowly valued leverage is truly massive.
compensation from govt will keep banks at bay IMHO. if ausgrid goes our way , $100m lift in value or a mind boggling amount per share - $100 !
Also note has franking credits of $11.9m not on balance sheet - plenty of reasons to think banks will keep supporting
Cheers
Baraka
AEJ Price at posting:
$4.10 Sentiment: Hold Disclosure: Held
