ABSOLUTELY and that if why I said in AGM/NOTICES thread that:
■ 10% placement should NOT REQUIRE to be activated because LRV is to debt finance.
LRV may have the capacity to repay the full $75m with 3-4 times cover in YEAR 1 alone.
Project finance repayment schedule likely be spread over 18-24 months with say $60m ($10m per quarter if 18m / 6 payments and $7.5m per quarter / 8 payments) plus $15m revolver VERSUS potential monthly free cash of $20m per month that could repay $60m in six mnths at two times debt cover.
A lender's dream deal but again what if LRV were to expand in the future .. who knows but in time exploration success / supply and demand may drive a need to upgrade ...
■ Hurdle for performance shares too low for doing YOUR JOB ...
RESET to $2 and respect shareholders.
IF they do what they say they will and that is commission HILLGROVE) then $ 2 will be achieved by 31/12/25.
YEAR 1 delivered at BASE CASE (tonnage and AISC) then $4 / $5 will be achievable on the back of commodity prices (gold and antimony outlook both very strong).
........
AIMHO/DYOR/GLTAH.
LRV Price at posting:
94.5¢ Sentiment: Buy Disclosure: Held
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