They forced themselves into renegotiating. They painted themselves into a corner. Lynas spent three months trying to replace the debt, which was a futile exercise as the Mt Kellett conditions made it impossible to find another lender to replace JARE. So JARE either had to accept a new repayment schedule, or call in the Receivers. As it is, they've got some cash out of Lynas' shareholders, and may get more, and still have the option of Receivers if Lynas default on their conditions (which go waaay beyond simply making loan repayments) again.
Risk and reward for LYC ., page-70
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Last
$6.88 |
Change
-0.040(0.58%) |
Mkt cap ! $6.430B | |||
| Open | High | Low | Value | Volume |
| $6.92 | $7.05 | $6.83 | $13.27M | 1.918M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 966 | $6.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.90 | 18661 | 4 |
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| Last trade - 16.10pm 03/09/2024 (20 minute delay) ? |
| LYC (ASX) Chart |