Mt K conversion price is coming down quicker than the rain flooding those leaking holding ponds.
So how is Lynas ever going to pay the Sojitz debt if full in mid 2016? That won't be the result imo. Look out for the new lender, they love a good bond deal, and it won't be pretty, esp if the SP is at .10c and the Lynas team still haven't proven anywhere near cash flow neutral, neverlone actually turn a profit heaven forbid, prior to September.
Only need to pay interest, yes along with $45m plus in production/admin costs, thats all, oh and higher interest no doubt on the debt (if it is actually refinanced).
Around 2016, another $225m worth of shares could hit the boards via Mt K, at what price? Ooh that could be a whole lot of shares.
Mind you the company will be in liquidation talks well prior to then, so Mt K will be the new owners, yes bondholders before shareholders, stand in line.
The cash flow neutral, are they including interest payments and all associated admin and royalty payment costs in that "cash flow neutral" figure?
May want to ask, would be prudent to do so imo.
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