Something i just picked up from the BCD Quarterly Activities report regarding the convertible notes being repaid to Minemakers. It indicates that we ar elooking at getting the entire amount repaid which at 20% (from memory) appears to be a good investment in my opinion and probably perfect timing with receiving the cash
"SHARES ON ISSUE
During the September quarter, there were further conversions of 100,000,000 convertible notes to shares in BCD. As of today?s date, 28 October, there were 1,051,703,439 shares on issue, with 1,090,479,200 secured convertible notes still held.
Some early redemptions of convertible notes held by Minemakers Ltd have been made with payments of $720,000 to 31 October. Further early redemptions are planned during November and December, allowing savings on interest and a reduction in dilution to shareholders. These will be funded out of the strong expected cash flows arising from the mining of the western zone."
bcd convertible note
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