One thing I have learned over the last 5 years, that whenever the company starts financing their operations via convertible loans, the end is sort of just around the corner. This loan also does HRZ no favours. And from the looks of things is very likely to convert in November 2025.
Well wherever the SP of HRZ is gonna be then, it may come under selling pressure right after. Unless, the HRZ story is gonna be so compelling that they will hold off from dumping the stock fully, and may hold the lot or sell partially to recoup their investment only. Anyhow the terms of the loans are quite onerous. Still HRZ will overcome this also, as we are in the very beginning of the commodities super cycle, and we are going to BOOM over the next 5 to 10 years.
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