Leigh Creek Energy Bidding for Incitec Pivot's Fertiliser Business, page-9

That's a good question @dazzler, further, if a bid has been placed you would think that finance in the vicinity of $500-700m would be approved already. They wouldn't be placing a bid without finance! Most probably, the ball would be in the court of UBS, and confidentiality agreements would be in place.

Since Incitec Pivot announced the Strategic Review on 2nd September 2019, I have been watching this space very closely. Especially when on the 10th of September (just over a week later), LCK dropped the "LCK low cost, disruptive technology in fertiliser production" announcement - just a coincidence??

They even mentioned IPL......

"We note that the country’s major fertiliser supplier (Incitec Pivot) had to rely on Queensland Government support with an emergency measure to help them obtain gas supply".

The first round of bidding for IPL was due at the end of January.

The IPL fertilser arm in a normal year generates between $100-$150m EBIT. The cost for LCK's feedstock is lower than AUD$1.00/GJ, compared with $8 a GJ. What could LCK's EBIT be????

Exciting times for investors .