Thanks Mr S, hadn't spotted Chi-X, yes 70m! My understanding is...

Thanks Mr S, hadn't spotted Chi-X, yes 70m!
My understanding is forget what we read in AFR, there is no "equity swap" as such. But MK bond holders get Warrants with a strike price of 5c. If they all convert before 30/9/20, that's $17.4m in LYC coffers with 348m new SOI.
I think LYC will hit double digits on back of this before end of year or possibly very quickly. Then it's all about RE Prices, the point bring LYC SP is now fully leveraged to any increase and building on a base case marginal operating profit as per today's accounts. So easy now to see us filling gaps above next year on any RE price recovery at 20c and 29c (from memory, feel free to correct if wrong) - glad we didn't Gap up first thing thanks to a couple of generous souls who were all to happy to come on HC and trumpet there intention to sell at the open, well done, chips.