A few things to keep in mind while we ponder this one.
PB owns 39% of the company. He needs that margin to maintain control, so I doubt a massive dilution of the current free float is on the cards.
This is way too early to be the Ark.
Umiat is not proved up, so that's out of the game [and it's fully funded by the Notes issue anyway]
RA has already been confirmed to be on the share register, so it may be him, although he's have to buy more than 10% to get 10% if he were to do it through a Cap Raise [think dilution]. So, while I wouldn't fall off my chair, it's not likely.
We haven't tapped into the ABLF yet. So I struggle to see exactly what the SHORT term cash flow restriction would be that require an immediate Cap Raise for daily ops?
It might be the coal divestment? But that was due Q3.
More likely Exxaro. I'd say $25-30mil.
We need the cash, like Al has always said. I think even I mentioned it last week?
You wont be popular BigAl, but a TU from me as always. Al least you back your claims.
LNC Price at posting:
$2.67 Sentiment: None Disclosure: Held
