Ann: Lucapa Capital Raising, page-122

I see this Cap raise as a can kicking exercise & raising funds to pay the ferry men.

Equigold facility payments kicked in April - $900k USD or about 1.4m AUD terms. SL has the ability to convert that debt to equity. I dare say he’d prefer cash at the moment

Stanley’s loan becomes principal balance becomes payable in May 2020 - it’s a 10m AUD facility.

Then we have IDC loan with quarterly installment payments having kicked in this January. Lucapa us required to pay this facility of 6.9m USD - with interest accruing at circa 15%, over 9 quarterly installments.


The last one is the kicker as Lucapa has provided a 70% proportional guarantee - if these payments are missed - its trouble.

Lee & Stanley may be friendly - but if LOM cant restructure IDC debt - its hard to see a way out, other than constant cap raises & some extraordinary results at
Mothae - which has been underperforming pre Covid.

I personally believe this money is primarily being raised to keep creditors happy.