Hi
@TRr,
All good and well - it's been an exciting past few weeks and hopefully more to come. Like many, I'm in the "No" camp for the $3 T/O so haven't sold a single share.
I did have an interesting catch up with my former Boss who tipped me to look into LTR back in 2019 for them. Similar to some already reported here, he received a call from Gina's broker offering to buy their shares at $3 and was contemplating about it.
The GM at my current employer also checked in with me yesterday wondering what she (Gina) was up to - he used to work in a senior role for one of the Top 20 holder (a local WA businessman); his view is that, if Gina has her own interest in mind by acquiring a substantial stake, he see little reason why it would be adverse for the other shareholders unless her plan is to to take LTR for herself.
Anyway, I had worked out some numbers when LTR provided us the Project (capex) update however it's just not quite there yet as
@ChocolateTeapot suggested; I will put them up once the funding mix is sorted.
For the time being; and with reference to my previous post - excluding the DSO; I previously estimated a funding shortfall of $400m as opposed to LTR's project update of $450m; at minimum. They did indicate they may seek more than that - I'm now expecting at least another $100m taking it to $550m.
And in relation to today's announcement, it shouldn't be a surprise. As some of you may know - I'm in the asset investment industry working for a listed company managing listed/unlisted funds - even deals/finance under $50m can have delays up to weeks for whatever reasons. And capital raise does take time unless it's already a done deal among a handful of ultra high net worth investors before the info is made known.
For now, I'm glad Albemarle did not proceed with the $3 T/O saving us from getting a huge tax bill... for now.
As some already noted, if Albemarle and Gina is willing to pay $3/share (premium or not) for LTR. Last I checked; they're in a business of making money - they clearly believe LTR is worth more.
(20min delay)