The reality is if the company had not had the suspension issues, and you take into account the ownership / funding changes, LLL would be trading 35c - 45c area IMO. LLL SP was pulled up to the LTR offer as I had alluded to at the time based on data available.
LTR has been caned just like the rest of the sector and is near 52 week low. LLL would not have escaped this.
However the Suspension adds a whole new dynamic to the SP and it is unlikely the removal of the suspension comes with more positive news than entering ( forget reserve updates, market worked those out), be very lucky if the same as we went in. DSO now would be a tight test program done at a loss if occurring now or the near term.
So the reality is the SP is going to be under serious duress.
(20min delay)