LYC 2.89% $5.69 lynas rare earths limited

Firstly disc ( I sold my last holding in the stock at 16c a few...

  1. 2,382 Posts.
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    Firstly disc ( I sold my last holding in the stock at 16c a few weeks ago) & I took a bath in this company, it was always a punting stock for me. I sold when the forecasts no longer suggested a debt service cover.

    I have worked in workouts with several institutions for over 10 years.. my experience suggests,

    This is not how credit workouts take place... they will have already been asked to refinance ( hence why they engaged the investment bank), there is too much risk in the debt now even for mez markets... I think why you will find is that the agreed re-structure would not have been agreeable to the note holders ( because the investment bank would get the GSA).

    Make no mistake either, workouts are not nice and are intended to protect the banks capital (at any cost).

    Best hope now is private equity, much different risk profile.

    I know SH's don't want to read comments like this but consider getting out of this thing whilst you still have a shirt- worst case scenario you miss the 10c spike that will come if they can by some time, if they are actually able to turn their cash-flow around the move will be much greater ( hence there will be plenty of time to get back in)

    All the best
    Snake
    Last edited by Snake26: 15/09/14
 
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