Well I did warn everyone about this.
All the talk about the royalty being worth at least $500M proved to be incorrect.
The problem as I stated many times was what level of production would they achieve.
As there was no minimum production level in the agreement Adani were always going to get this on the cheap as they had all the cards.
I must admit $155M for this was even lower than I was expecting.
Without this revenue stream going forward the Company are in major strife.
This was clearly a fire sale price as the companies cash flow position is dire due to way too many "low chance of success projects" ever getting up and running and making a profit.
Be very careful with this now as I personally now have a negative value on the company after this sale of the royalty ie Assets less Debt is now negative.
LNC Price at posting:
99.5¢ Sentiment: Sell Disclosure: Not Held
