The banks are prepared to offer a six month extension to the current agreement which is a great sign. This is a step closer to a longer term agreement. (keep in mind this board is sharp, they will not be placing all their eggs in one basket and will be looking at other potential funding options)
The hearing into the Ausgrid dispute will occur in December and being so commercially critical I would expect that a result will follow swiftly. I believe their is quiet confidence in a positive outcome.
Once this has occured I expect a positive half year result of Management EBITDA of +$16m
Based on all these factors the upside from hear is 10 X the current SP!
I have been accumulating over the past 2 months
AEJ Price at posting:
$6.51 Sentiment: Hold Disclosure: Held
