The following is an extract from a report by Alan Kohler:
"I have some good news, IPO’s are back.
It makes me feel better just typing that. Let me do so again: IPO’s are back.
And it’s looking like this may be the start of a large number of IPO’s, old fashioned M&A and the kind of optimistic and lively activity we were all accustomed to pre-crash.
Many companies, Australian ones in particular, have gone from trying to find two pennies to rub together to having more money than many know what to do with."
It seems to me that with that sentiment in the market and the current interest in the shares of LYC that it would be reasonable to rethink financing.
The current deal stinks. Not only is it opportunistic and underpriced but it is shortsighted from a national point of view to allow a foriegn country, particularly a communist one, to have control of the worlds resource of such a strategically important product. I ask you to bring this mail to the attention of ALL the directors and I appeal to their national pride to keep this company Australian.
Yours faithfully.XXXXXXXX
LYC Price at posting:
51.8¢ Sentiment: LT Buy Disclosure: Held
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