Offtake will be crucial as we are now in a little bit of a precarious situation as market cap is $500 million and we need nearly $400 million AUD for phase one capital expenditure. If we are unable to secure financing or some offtake loan it will be a massive CR or even quite a large one to dilute.
This was not such an issue before but I think the shorters are now onto this, hopefully with such a short payback period financiers particularly in Brazil may be able to come to the party though. Also with 25 interested offtake partners you would think they are in a position to drive a very hard deal.
We will see what they spin up but I am not overly confident in the company with the offtake on two fronts:
1. Ensuring we are paid a premium for the spod given it is triple zero - they are likely to just link it to spot prices.
2. As above, extracting the best deal in terms of loans and funding construction.
Note: Lack of confidence comes from some of the CR's which have been done at lower prices, I know we are below 25c but they should have done it at 35c a month or so earlier! Maybe Tony just meant riasing funds when he says a capital raising? Such as a loan.
Previously I was open to part CR to a BYD type to give them skin in the game but at this price not sure I like that idea!
Will also be interesting once the Sigma domino (hopefully) falls what happens from there.
LRS General Discussion, page-15229
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Mkt cap ! $475.9M |
Open | High | Low | Value | Volume |
17.0¢ | 17.5¢ | 16.5¢ | $3.506M | 20.69M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 170000 | 17.0¢ |
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Price($) | Vol. | No. |
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17.5¢ | 1113801 | 13 |
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No. | Vol. | Price($) |
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21 | 898331 | 0.165 |
26 | 1460255 | 0.160 |
22 | 1027199 | 0.155 |
47 | 2975655 | 0.150 |
15 | 1203293 | 0.145 |
Price($) | Vol. | No. |
---|---|---|
0.175 | 1110854 | 12 |
0.180 | 1103673 | 12 |
0.185 | 957474 | 14 |
0.190 | 333132 | 11 |
0.195 | 524626 | 12 |
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