IF they need it. Its a fair bit removed from your initial scenario of a 100m share dilution. If you know anything at all about this co - (which I dont believe you do) approval of the $95m drawdown will lift the price which blows your calculation out straight away. Without the $95M there is virtually no need for the $30M as the co needs far more than $30m to reach production.
Again - its a big IF..and as suggested elsewhere in these threads - it seems very reasonable to me that the additional facility is in place to satisfy other lending and drawdown criteria of the senior lender and/or convertible note holder. The original loan also incorporated a contingency amount of - i believe - $20m.
IF they need it. Its a fair bit removed from your initial...
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Last
$6.37 |
Change
-0.190(2.90%) |
Mkt cap ! $5.954B | |||
| Open | High | Low | Value | Volume |
| $6.53 | $6.55 | $6.35 | $21.07M | 3.291M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 11945 | $6.36 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.37 | 99 | 1 |
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| Last trade - 16.10pm 08/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |