"Linc Energy also had access to a A$90,000,000 corporate line of credit facility with a subsidiary of Fortress Investment Group LLC which can be drawn at any time. At 31 December 2012 the Company had utilised A$43,000,000 of the facility."
This needs be taken from the $200m. It should also be remembered that the fortress loan was convertible to 1% of issues capital at any time before 2015. So yes, this is potentially more diluting, but not a new thing.
I think provides Exxaro comes off this is a positive. Without Exxaro they'll kill us for this.
LNC Price at posting:
$2.30 Sentiment: None Disclosure: Held
