Chihawk: I admit to congratulating Poncho, JJ and Cwumsu on the GWM message board on Thursday when it appeared that a convertible bond issuance was to be forthcoming. The financing is essential to building out the Steen project. I also warned that the details of the terms had yet to be announced. Well now we have some of the details and they are not favorable. Paying 8% a year for $80 to $90 million will be very hard for GWM to accomplish. The share price plummeted today as this news emerged and the CEO tendered his resignation. Lynas is in the lead now by a significant margin. Poncho has ascribed Lynas cash flow as onerous based upon his assumption that the burn rate is $40 million/month. Where he got that figure is anyone's guess, but it is significantly overblown. I am now quite skeptical of the GWM story but remain bullish on Lynas.
Chihawk: I admit to congratulating Poncho, JJ and Cwumsu on the...
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Last
$8.02 |
Change
0.120(1.52%) |
Mkt cap ! $7.496B | |||
| Open | High | Low | Value | Volume |
| $8.00 | $8.09 | $7.91 | $30.69M | 3.836M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 24797 | $8.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.03 | 44081 | 6 |
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| Last trade - 16.10pm 07/11/2024 (20 minute delay) ? |
| LYC (ASX) Chart |