Sounds like Deutsche Bank is paying for its rights up front for a fee! What a rip-off. If this went into admin right now (pre-rights) we would get a lot more than 8c/share.
The loans are worth $166m and 8c/share (pre-rights) is worth $44m = $210m.
Jiangsu and Mt Catlin alone are worth more than that. GXY's Sal de Vida Li deposit is just as good as Orocobre's Sal de Olaroz deposit (The DFS put a value on Sal de Vida of $380m).
With an administrator someone would buy the whole kit-and-caboodle and we would get around 20-30c/share at least. The best we can hope for is that very few rights are issued.
But I doubt that that will be the case. Deutsche and those Chinese investors will acquire as many as they can get.
Remember ECE saying they would reconsider investing their $66m in GXY after the plant restarted?
bridging loan, page-11
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