Ann: Debt Facilities Update, page-131

After reading the announcement again and looking at the notes to the accounts again in regard to the Sojitz / JOGMEC debt, Lynas are in a very tight spot.

IMO, a deal could not be done with Nomura due to Mt K blocking the deal as per the conditions in the deed poll.

And after reading the notes on the Sojitz/Jogmec loan, I found that they have security of all Lynas assets, that means Lamp and Mt Weld and Duncan.

Further secured borrowing is not possible as S/J have all the assets for security for their loan. Even if there were available assets Mt K would block.
Then there are debt to equity , and service of debt cover plus some others.

So Sojitz/Jogmec approval seems necessary to borrow any more. Mt K can only block sale of debt if security is transferred.

What are the chances Sojitz/JOGMEC owning their own REE operation. Deals could be done with creditors including MtK and we shareholders would get zip.

Just a hypothesis.

Only 11 workings days to default day.