Ann: Trading Halt, page-31

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???