If I'm not wrong M Kellet obligation is only US42m by mid '16., if the SP goes beyond AU$1.15, failing which Total will be US225m. Fistly there is 3 more years to go. Secondly by then Lynas should be already running in capacity, therefore SP beyond AU$1.15 is a distinct possibility. M Kellet would not have gone for it otherwise, in the fisrt place. I think Lynas should be able to meet the obligation and rightfully pay off in full. A borrowing appearing in the book is never a good thing.
I tend to think CR calling anytime soon is not likely.
assistance regarding current basket price, page-15
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