The March 8 news release said the warrants had been converted. My understanding of an S3 XT is it is a warrant cross -- which would suggest then that some of the outstanding warrants convertible at 5cents (there are some 345m of them) have just been sold? The 135m converted should be trading.
So does this therefore mean there is another 100m shares about to be converted and further dilute things? Is MtK going to drip feed warrants to the market as a means of liquidating its position and avoiding taking on a significant ownership position in the company (and therefore require shareholder approval)?
Truly is all speculation. I think Lynas could wind up being pretty big -- but a dilution of another several hundred million isn't ideal. A full dilution would be disaster -- at least for my position.
thoughts?
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