flyer69, etc
Yes, I have followed the Mt Weld story for quite a time (> 40 years - since Wesfarmers were involved for the REE's associated fertilizer potential). Lynas came onto the scene relatively recently. I seem to remember 'Twiggy' giving it a shake too.
I have also followed the modus operandi of "loan shark investors" that look around for a struggling Company with sound assets - their assessment being that the Company will require cash urgently, & a foothold can be gotten at a bargain price. If they then have shares in the Company, they can, if the Company needs more of their cash, to a degree at least, push down the conversion price by dumping & replacing cheaper. Original stakeholders get rapidly diluted. Examples abound.
I trust management won't get the Company into this position. But my point remains, that Management has had a long time to get the project financing in place, & we see them mucking around with "loan sharks" in the final week.
And why is the projected cash position precarious? Because they've belatedly decided that a mine-site beneficiation plant is necessary? And mined a full year's feed ore rather than a lesser, but sufficient amount, in advance? Wasted costly time mucking about with the Processing site?
The decision to carry out additional REE processing 'in-house'?
My point about philosophy / delays / costs in switching the Process Plant site from China to Malaysia (x2) seems valid to me. I did not invest in LYC (@ 60c) until they dropped all plans to deal with China - can't trust those Chinese! -as subsequently bourne out.
I still have 1/2 of my original 60c shares (having sold the other half @ $1.32). I have just bought @ 28c; so I guess I see things working out OK by the end of the month; & perhaps I shouldn't be regarded as a "negative". I'm banking on Management getting the financing, etc (whatever that might be), 'over the line', even if it requires a "loan shark" facility (I trust never needed) to be in place.
Though I didn't buy too many - Management won't be making an announcement before 27th Jan - that's cutting things pretty fine in my books.
Col8
- Forums
- ASX - By Stock
- LYC
- Ann: Standby Equity Facility
Ann: Standby Equity Facility , page-33
-
- There are more pages in this discussion • 13 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add LYC (ASX) to my watchlist
(20min delay)
|
|||||
Last
$6.92 |
Change
-0.020(0.29%) |
Mkt cap ! $6.468B |
Open | High | Low | Value | Volume |
$6.95 | $6.97 | $6.87 | $16.72M | 2.418M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 5820 | $6.92 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.93 | 15020 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 3787 | 6.920 |
1 | 6972 | 6.890 |
3 | 27603 | 6.880 |
2 | 18496 | 6.870 |
1 | 11761 | 6.860 |
Price($) | Vol. | No. |
---|---|---|
6.930 | 15020 | 3 |
6.940 | 11861 | 2 |
6.950 | 12761 | 2 |
6.960 | 11940 | 2 |
6.970 | 599 | 1 |
Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
Featured News
LYC (ASX) Chart |
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online