A fund like Lind only makes money in two ways. First, convert a CN and sell into a weak market. This perhaps gets them some chump change simply because they are converting at a 15% discount but can't sell a high enough quantity of converted shares to make any real money.
Two, convert the shares and hold while knowing the company is about to enter into a production/revenue generating phase. Wait for the SP to appreciate and then offload.
Now really ask yourself - what does a fund like Lind want more that anything? Make money right? That's why they exist. So by taking a RISK ON approach I'd say they have have signalled to the market that they believe there is more value in holding large quantities than in selling.
IMO
ANW Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
