Hi @GravityWaves. Just thinking loudly about your comments ...
I'm not sure when Lind payments are due but the best estimate is that the first 1/12th instalment is due 14/2/19 and the next 14/3/19. Those payments I thinks are A$750k each. I also see in the annual report that MACA is to be paid A$1.0m in March.
It would seem to me that the A$1.0m is explicitly identified in the forward cash flow estimates, but the 1/12th instalment not. Possibly there is an assumption that these will be settled by way of conversion. Of course, the random number is converted at what price...
What if the 5 day weighted average is 3.5c? Lind will receive on 2 occasions $750K / (0.035*0.9) = 23,809,524 shares. If they were to dump those on any single day my sense is that would be a heavy load on the stack. I note there have only been a couple of days where that volume was traded in a single day. Maybe ahead of that Lind might sell short... maybe. I also note that the directors don't have the capacity to issue beyond 114m shares without asking shareholder... that caps any conversion to 5 months.
'Twill be interesting to see how this unfolds.
But, as Monty Python would say, "Always look on the bright side of life"
Have a great day
BLK Price at posting:
3.3¢ Sentiment: Sell Disclosure: Not Held
