All Systems are go, page-84

I compare the notes to other notes issued by predatory lenders such as La Jolla, Bergen etc. They differ slightly but the terms of the MIZ notes appear more favourable because they get the 18% interest plus the 20% vwap discount in an unknown conversion window. It's debatable whether or not placements would have resulted in less dilution, I doubt it very much personally.
I know close to 2 billion shares have been issued this year, many around the 0.32c level, not sure what the exact average price was but placements would have been absorbed and subsequent placements could have been made at higher levels imo. The noteholders have moved the share price to lower levels and converted at lower vwaps, then allowed to fund again via new notes, diluted shareholders and kept a lid on any move higher imo. Whether this continues remains to be seen. How the company handle the upcoming convertible maturity and working capital requirements will be interesting.

The company have done well with the silver stream deal which should favour both parties long term imo plus the project acquisition appears to have been at a low multiple on assumed profits.