While I agree there is great uncertainty around the mechanics, It would seem that LDA have already made the election to receive 100% of the call notice (i.e. 25m shares). Those have now been issued and LDA has sold a significant bulk of those shares.
The only question I really have that is unresolved about the LDA deal is what the MAP is.
It is also worth pointing out that $8m of the $10m owing to starlight has already been paid to starlight. There is a final tranche of $2m due in mid to late September.
What the money raised under the LDA call here will primarily be used for (I infer), given the $8m already outlaid, is to cover (some of) the increased BFS costs flowing from the decision to focus on 20mtpa.
HIO Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
