Hey mate,
I believe the “28c” exercise price was more of a lure, to get the deal done. I believe it was also overly generous, particularly with the 1:1.
Given 28c reflects a MC of under $300M, according to the LCK’s timelines with potential assets under their belt (obviously ownership dependent on loan/funding etc) and time til revenue (based on PFS for now, DFS will tell the story, which I believe will look much better for the company) …. we’d be absurdly undervalued.
I think the 28c price was also made, with the hope, that they’d be exercised in the shorter term to give the company the cash injection it will need in the early part of 2022.
Oh yes, Oppies can be tricky …. But you can make a fortune if you pick the right ones….. and LCKOA, IMO, are a steal at current price.
On the flip side, If we’re $300M MC or under in 3 years ….. something has gone horribly wrong
Cheyne
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