Been around long enough to know companies will spin stuff the best way they can - but you do you @favre.
I am not short LTR (nor ever have been) and I wish them all the best because it's a great Aussie success story - but I suspect shorts won't be panicking. At 11.3% I think they were probably positioning for the eventuality of a capital raise in the event a bank debt deal fell over. Given the con. note is only $379M and they're potentially facing 12+ months of low lithium prices, I think some might cover but most will still be projecting a funding gap a bit further down the road. I'm with @dawgfather on this, I think debt financing falling over twice will get instos excited for mis-steps in ramp up or further lithium price falls. GL.
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