RE:Highlights = Lowlightsbad luck running at reduced capacity but they still have a full quarter of nickel inventory and can continue to sell a quarter worth of nickel during q3.
yes they get distributions bi-annually. when they receive the cash distribution, cash jumps back up as happened in the past.
"Now that the operating debt is repaid, the Company will receive cash proceeds on a bi-annual basis equivalent to 35% of its share of the mine’s operating surpluses, with the remaining 65% used to repay the nonrecourse construction debt and related interest. Furthermore, once the Company’s non-recourse construction debt is repaid, which can be repaid at anytime in its entirety without penalty, the Company’s participatory share of the Ramu Nickel Mine will automatically increase from 8.56% to 11.3% and the Company will begin receiving 100% of its share of the mine’s operating surpluses on a monthly basis."
when the debt is paid, they receive the cash on a monthly basis. that is another reason for swapping that construction debt with an outside loan. they would immediately jump to 11.3% and get paid on a monthly basis. can anybody convince ceo to do that? maybe when the debt amount drops lower they can get a loan. lenders often have a minimum debt to equity ratio requirement.