Something got mixed up in terms of peoples and the markets understanding of what truly was going on.
Did the 2 director of Chimera being 2 directors of LS mean LSL also gets put into bankruptcy?
Not on your life.
However...many thought it may happen.
It didn;t as we have seen. I know of over $3 million in the LSL bank. The market cap doesn;t reflect this.
Those poor directors got jammed by ANZ....then people thought it would carry onto LSL.
So wrong..but sometimes peoples fear carry's on to other precipes.
I feel for those directors...but personally I dont do margin loans...I just invest with the money I truly own.
LSL got caught up in the hype.
LSL is a totally different company..just has 2 directors from Chimera that ANZ decided at the last minute to liquidate.
However..ANZ now holds 68% of LSL. The chance of liquidating LSL is next to zero imo and to top it off....on the fear of what ANZ would do.....LSL got sold down 90%.
I hope not many realise whats going on as I am going deep.
Before the confusion LSL was 1.8 cents.
I am in at 0.3 and 0.4...and am going to load up tomorrow as I susspect many others will.
LSL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
