news out columbian coal option, page-37

Mihal,

Totally agree with your comments.

you wrote "...I am unfamiliar with them, and it remains to be seen what they will do with their shares & options."

Following is what I think.

Going by definition of convertible notes (this is not a bond), the duration that the investor could hold will be for few months or weeks. So, it is more likely, that a pump could happen and it is time for ALL the people who want to REALLY get out, can get out.

Googling about Bergen, could not even find a website for them. Lot of small caps have done something similar to CCC, but not sure how many did with the floor price.
Most of ASX small caps who have gone ot Bergen have taken small amount say around 2M, 5M 10M.

What surprises me is as per Appendix 3B - point 6 - Purpose of issue - "The purpose of the Convertible Security is to secure funds for general corporate and working capital purposes".

Are they that dire to pay themselves or accounts payable (may by Range Resources repayment of 2M...who knows).