Reading the deal that Lynas struck up with Mt kellett, it appears that the loan of $225 million can be converted to stock at October 15th at $1.25 per share.
I read it that that MK can take a modified SP based on VWAP for 30 days after that date.
If the SP was 95c then Mk would acquire an additional 30%.
Early Christmas for MK.
As the AGM has moved to a few days after the 15th, I see it as good news for shareholders because a significant anouncement would have MK making a decision to take up the
$1.25 or wait until mid November to take their chance on the VWAP.
The timing of the AGM coincides with first feed.
Is Lynas management a bit more clever than some have given credit?
The MK agreement resulted in a cheap loan under 3% to complete the plant.
So...3 more weeks of this?
Have I read this incorrectly?
Anyway...I see it as a chance to acquire, as I have.
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Reading the deal that Lynas struck up with Mt kellett, it...
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