Cafa, you are suggesting that Lynas somehow has to pay back all of the debt in 2016. On the surface that looks correct Mt K and Sojitz/Nomura. If they did that they would be debt free.
How many major companies have no debt ?.
Even though it has not been discussed, I would think that by 2016, some of the loan will be paid back and the balance will be a new long term loan of some sort.
I know now your next response will be that Lynas must announce what they will do about debt in 2016. By then, hopefully cash flow is sufficient to finance longer term debt.
Auditors will qualify accounts if they believe that the company will not be able to pay debts and Directors are liable if company trades while insolvent. They were in a tight squeeze before the recent capital raising and Directors likely very concerned.
I do not have rose coloured glasses on, I made money on LYC in 2009 but have lost all the profit and more in the last 12 months. I got back in when it looked like production and sales were starting so have been very dissapointed of late.
Lynas will not publish an operation update, page-25
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Last
$7.59 |
Change
-0.180(2.32%) |
Mkt cap ! $7.173B | |||
| Open | High | Low | Value | Volume |
| $7.75 | $7.75 | $7.59 | $3.525M | 460.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 2400 | $7.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.60 | 7208 | 18 |
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| Last trade - 11.34am 16/10/2024 (20 minute delay) ? |
| LYC (ASX) Chart |