Switchmullet said it perfectly… “if the alternative is not being able to service your debt and going bust then the deal doesn’t look so bad”.
That is precisely why major shareholders would support Mt. Kellett’s conversion of debt to equity… by doing so they would retain some value versus having no value if the company went bust, unable to service its debt.
You would have to be insane to believe they would convert for $1 per share when they can buy shares right now at 18 cents with money Lynas owes them.
The handwriting is on the wall; dilution is coming. If Mt. Kellett converts Lynas sp will drop under 10 cents, IMO.
“The dumbest idea around here for quite some time”. No, the dumbest idea was ignore reality and hang on to your shares. NC has gotten rid of most of his.
Reality is not popular but it can be helpful. Best of luck to holders, in all sincerity I wish you nothing but the best.
Switchmullet said it perfectly… “if the alternative is not being...
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Last
$6.40 |
Change
0.000(0.00%) |
Mkt cap ! $5.982B | |||
| Open | High | Low | Value | Volume |
| $6.47 | $6.48 | $6.34 | $20.28M | 3.161M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 12848 | $6.39 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.40 | 17965 | 2 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |