Ann: Entitlement Offer Shortfall , page-13

I'm less concerned about the interest part.

The issue is whether the $85m gets things comfortably to cash positive. If it does, then share price will fly up from here.

But monthly cash burn is still high because production been way too low @2k oz per month (vs. about 6k oz per month to break-even), and once WN gone RSG may find more money needs to be spent on a range of things to get production up. RSG of course have the incentive to find that more money is needed because what will then happen. If more money needed to get to cash positive, NMG may go into default on terms of Notes (e.g. set limits the on unpaid trade debts) which would result in a crushing CR price. Why would RSG wait to pay 12c when they can pay much less and get control sooner?

So it is delicately poised to go either way.