Ann: Heads of Agreement for Sale of Waste Rock at Granville, page-86

I'm pretty torn right now, I was so sure Lind would convert immediately as this is the best price for them, 90% of 1.4c = 1.26c. If they try for 1.3c they trigger the 1.2c floor and ANW can pay however much they can. It could be they know ANW are a while off sales so the longer they wait the less cash we have to reduce the conversion. If we don't get a move on with cashflow they could smash the SP below 1c and ANW won't have much cash to soften the blow. I know last conversion was a pump and dump but I think they are trying something much larger. At these levels a single pip is 7-8% profit. Wait for the cash barrel to run dry, potentially dump and convert at the bottom, then pump/wait for sales to sell down the track. That's my horribly wrong conspiracy.