Yes I have spoken to Patrick previously and your right they will need more capital which is what makes LCA a harder investment proposition. Agree 100% on the costs side. Debt isn't cheap at this end of the market - if you look at the interest rates JKL are paying....yikes. I'll post some more on it when I get some free time (maybe Sunday).
As an aside I am going to pop an email to IMF re: how slow the cases are coming through vs budget ($120m) or vs Burford when they are now effectively capital unconstrained (a great position to be in).
LCA Price at posting:
40.0¢ Sentiment: Hold Disclosure: Held
