Graham and CO
The agreement by the largest LRS shareholder Junefield to convert $1.5 million of debt in to shares at 2 cents is very positive deal for them , and also for us loyal LRS shareholders .
The company obviously has quality assets in Peru but is totally on the nose ,with its share price less than 1 cent
To get rid of $2.5 m debt , $500k now, $1.5 million at 2 cents per share and then $500k unsecured on a deferred basis for 18 months is a terrific result for all parties .
Junefield deserve to take what is really cheap stock at 2 cents based on their long term support of the company
Now all they need to do is get a deal done on Illo Sur, Illo Este , JV Illo Norte or find a JV partner on Guado and the 2 cents premium they are accepting now for the debt repayment will be rewarded in my opinion
Will be a buyer again in the morning
That is a very good deal for shareholders
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Last
18.5¢ |
Change
-0.005(2.63%) |
Mkt cap ! $517.8M | |||
| Open | High | Low | Value | Volume |
| 19.0¢ | 19.0¢ | 17.5¢ | $2.039M | 11.17M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 144143 | 18.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 18.5¢ | 2098329 | 16 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| LRS (ASX) Chart |