What's not being said....
1. Underwritten or not? If underwritten that means confidence by broker/bank running the CR
2. Placement only?
3. Rights Issue? Renounceable? or SPP
Use of proceeds when raising details published will tell what is going on wrt to S1/S2 and off-takes and the long term funding ... still plenty of choices IMO.
At that small amount ($16M) it would appear as "insurance" vs "desperation". It's possible that LCK has decided that its option to take Tranches 2&3 wont be exercised and they have identified a better capital structure. Slide 24 of the April Investor presentation has a proposed commercial structure ... perhaps additional capital needed to get that right.
Insolvency? Is there a debt falling due we don't know about or the future debts can't be paid???
Ann: Trading Halt, page-31
Add NRZ (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
1.0¢ |
Change
-0.003(23.1%) |
Mkt cap ! $19.02M | |||
| Open | High | Low | Value | Volume |
| 1.1¢ | 1.2¢ | 0.9¢ | $115.4K | 10.91M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 1640000 | 0.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.1¢ | 2099891 | 5 |
View Market Depth
| Last trade - 15.53pm 08/07/2024 (20 minute delay) ? |
| NRZ (ASX) Chart |