Mate you might want to read the announcement again.
The plan is to convert via cashless conversion, however only costing $165k to date so far. Any money he is tipping in now replaces any lost when converting in November. If he was to purchase nothing further, it has cost $165k instead of $475k and how far ahead or behind he would be at the time of conversion is all dependent on the SP
The reason why its not really bullish, is because the SP just has to sit even or slightly above his average to be a win.
With the BB in place, with known purchases past $2.10 - He can be pretty confident hes going to be at least 5% better off, with only approx 30% of the cash outlay early.
Smart, but really means nothing IMO
Anyone would do it providing they could
RAC Price at posting:
$1.95 Sentiment: Buy Disclosure: Held
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IMO
(20min delay)