This is contra to anything that was said at the AGM or two days before. We do not need a capital raising. We need capital. We do not need dilution. We just need time to get the CRML shares out of escrow. However, EUR can sell their CRML shares, prior to coming out of escrow, provided that they remain under escrow. There are at least 4 institutional funds wanting to increase their holdings in CRML. If EUR sells to one or more of these funds, earlier, it still constitutes a capital raising.
As I stated previously, EUR can sell down their CRML holding to 51% without affecting their board membership. In fact they have to do so for CRML to be a viable and marketable investment. I would argue that they would have to reduce to less than 30%.
Selling down to 51% would mean selling 20,827,830 shares. At last night's price of $US8.29 is $US172.6M or $AU265.9M.
That would well and truly make the share price jump and the B options back in the money ( i don't think that they were ever in the money).
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