JJ
The Mt K is a gem for them. They could borrow on the US for about the ongoing interest being charged to LYC. They have first or joint first call on assets, and imposed heavy restrictions on any new finance, until the 70% 6 month trigger point has been reached. Their options price will reset on any raising below $80m, and any amount over $80 will only happen with consent of Mt K.
In the meantime they have been able to short all the way down from $1.27 or thereabouts. They have already, probably, made several hundred millions. Should REE prices go back to silly levels and there SP rockets then they can clear shorts and make a bundle on the way up and bag a large capital gain upon conversion.
Their risk was/is the exchange rate, and that is coated back to LYC as the loan is in US$.
THESE ARE VERY SMART WALL STREET DUDES AND NOT CHARITY.
i'm buying at these levels, page-49
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Last
$7.75 |
Change
0.030(0.39%) |
Mkt cap ! $7.244B | |||
| Open | High | Low | Value | Volume |
| $7.71 | $7.81 | $7.63 | $12.03M | 1.561M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6556 | $7.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.77 | 3385 | 1 |
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| Last trade - 16.10pm 11/10/2024 (20 minute delay) ? |
| LYC (ASX) Chart |