cash cow

When FIRB knocked back China,s 51% holdings in LYC,the first one on the phone was JPM.
So it was JPM who underwrote LYC,s future.($450m)
A new CR,and JPM put their hand up immedietly to underwrite it.
JPM is seriously into REE,s.
Now put them aside and see who the punters are.
MS,Mt K,Merryl lynch..etc till you get a spread of around 75% OWNERSHIP OF lyc.
None of these sub holders have a love affair with each other.

We dont know who the new sub holders are...but we do have a fair idea that the arrangement chisled out by NC and "Them" really peeved off current sub holders.

The orchestra played..a 15 min death march.
5 mins open market/10 min auction...taking SP from 70c to 80c.

The current sub holders had manipulated the SP down to 70c..and penciled in a CR around 65c.

Instead their plans were disrupted.

Were they peeved..oh yeah.

New boy and NC were not getting away with that.(pot calling the kettle black)

So it was back to plan A...CR plans were geared around 65c..and thats that.

New boy and NC have been spanked..bit like..whose your daddy.

New boy looking at entry 75c now looks like a sucker..or that they have walked into a spiders web.

That leaves the retailers..looking at (2.5% disc)average price for SPP.

Well its not in the retailers hands..we know that.

If current sub holders want to spank NC more..they will make sure SPP ..sp will also be better then new boy..ie below 75C.

And we thought SMSL were a worry...Wall st leave them for dead.

The encouraging thing is that ..when the dealens done..all the subs will want profit..thats why they are in big time and fighting over territory...after all...is not the next most vital/strategic sector going to be REE,s.

Only ones missing are the mafia/triad...or watch this space.

When do we bounce...when the Deal,ns done.