Ignore my calculation above.
Thanks nrc for your post above, which prompted me to reread the LAC announcements - the equity part a lot more carefully this time. I was totally suckered by "Ganfeng has agreed to financing terms in an aggregate amount of US$174 million in exchange for 19.9% of the outstanding common shares of Lithium Americas pro-forma (the "Private Placement"); the right to buy a fixed portion of the lithium carbonate production from the Cauchari-Olaroz project (the “Offtake Entitlement”); and a US$125 million project debt facility (the “Project Debt Facility”. I missed the real equity contribution number on my initial speed read and the "alternative fact" stuck... (Memo to self - don't do these things when tired...)
Still a very good deal but they won't be quite as flush as I was thinking.
ORE Price at posting:
$4.58 Sentiment: Buy Disclosure: Held
(Memo to self - don't do these things when tired...)
