$40 million spp and placement?, page-8

Another thought is the impact on the Mount Kelet convertible notes.

I recall their conversion price gets adjusted for any raisings. I'm too tired now go and find the document and work it out, but I think their conversion price of $1.15 (if I remember the last adjustment correctly) would be adjusted further down, hence issuing more shares to them.

Although that's fair, it means a bigger dilution to existing shareholders than the 14% I suggested in my post above.

Maybe someone could do the calculations once Lynas confirms the specifics of the raising.