Ann: Appointment of Chief Financial Officer, page-53

So we’re agreed - some kind of capital raise will be needed (as outlined in LTR’’s own recent presentation) prior to end of 2023.

Thats not FUD. That’s fact @TrayonRanger

So Debt or Equity? There are advantages and disadvantages to both (this is by no means an exhaustive list)…

Broadly speaking:

1. Equity - no repayment obligation but you surrender a portion of the company (usually at a discount). Non participation can dilute current holders BUT - Places no additional financing obligation on the company which frees up working capital (no monthly interest repayments etc).

2. Debt - doesn’t require giving up a portion of the company but does require repayment, normally with a decent interest rate premium attached and can carry financial caveats and penalties if not met in a timely manner. Also debt financing can come with restrictions that limit what the company can do.

To me - given the global uncertain economic outlook and the tools that central banks have - raising interest rates are one of the only levers that many have of controlling inflation - IMO this rules Debt financing out for LTR and they will need to go down some sort of Equity financing route in the not too distant future.

DYOR IMO