IMO, shorting is just a punt that nothing happens along the approval lines until after Oct 15, and Mt Kellet get attempt to get their money back in a way that seems obvious and potentially generates a profit for them.
It all comes down to whether or not the debt to equity condition is triggered with legal certainty and MK don't care about shareholders.
The fact that price is flat know is neither here nor there. Fireworks to the upside or downside could come at anytime, IMO.
last two requirements for the tol, page-12
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Last
$7.92 |
Change
-0.100(1.25%) |
Mkt cap ! $7.402B | |||
| Open | High | Low | Value | Volume |
| $7.97 | $8.02 | $7.86 | $5.249M | 660.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 583 | $7.92 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.93 | 5719 | 20 |
View Market Depth
| Last trade - 11.18am 01/10/2024 (20 minute delay) ? |
| LYC (ASX) Chart |