Could be nearing the end here.
Lind (formerly Springtree) are known for their aggressive, "death spiral" loans. Companies take up such loans when there is no other avenue of financing available to them but I have never known a company to recover after getting into such an arrangement.
In this case, there is a caveat, that shares cannot be converted by Lind for under 1.5c. This is remarkable, because it means Lind cannot sell their LRS shares, unless the SP climbs to 1.5c. The latter is unlikely, because LRS now have no money to drill (even if they had the permits).
Being unable to repay the loan to Lind, and with no other income, what will LRS do? They may file for bankruptcy. That way, directors also get the money from the recent loans issued to them by the company.
I'm not saying this WILL happen, but I can't see too many other scenarios here.
GLTA.
- Forums
- ASX - By Stock
- LRS
- Vanadium in Argentina
Vanadium in Argentina, page-14
-
-
- There are more pages in this discussion • 23 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add LRS (ASX) to my watchlist
|
|||||
Last
20.0¢ |
Change
-0.005(2.44%) |
Mkt cap ! $559.8M |
Open | High | Low | Value | Volume |
20.0¢ | 20.5¢ | 19.3¢ | $5.462M | 27.56M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 202667 | 20.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
20.5¢ | 6654078 | 37 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 199998 | 0.200 |
7 | 2522574 | 0.195 |
26 | 3092267 | 0.190 |
20 | 1941132 | 0.185 |
21 | 3662793 | 0.180 |
Price($) | Vol. | No. |
---|---|---|
0.205 | 6229563 | 32 |
0.210 | 5432023 | 21 |
0.215 | 1985404 | 10 |
0.220 | 2312481 | 24 |
0.225 | 1863202 | 8 |
Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
Featured News
LRS (ASX) Chart |
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online