This is NOT the only reason though.
Note that $1M loan has 10% interest associated with it from Day 1. Namely: AAU will pay 10% interest (A$100k) IMMEDIATELY, even if the loan was to be repaid on the Day 2.
This, of course, would give AAU an incentive NOT to rush with the loan repayment and to use the capital in the kitty for other operational expenses, unless they were happy to pay daylenders' extortionary % on the borrowed funds. If they were to do that this would give the lender even more time to do the conversion.
Just saying...
Ann: ANTILLES GOLD ARRANGES UP TO $3M OF CONVERTIBLE LOAN NOTES, page-34
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Mkt cap ! $3.986M | |||
| Open | High | Low | Value | Volume |
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