Bloody good question. That's been rattling around my skull all day. I'm thinking it's gotta be significant (i.e. by virtue of the timing now, rather than rolling into the AGM in Oct/Nov). The penny hasn't dropped, though... yet. Maybe if I squeeze harder? (ok, sorry for that).
The timeliness of sorting out the CN expiry in 15 months should be an active issue right now and one might attribute today's announcement and associated timing to that, but the connection strikes me as waaay too filmsy - in part for the reasons already articulated. To properly manage that issue requires some kind of firm refinancing now, rather than the wishy wash language that BMM/E may, or may not convert at maturity. No, the debt issue needs proper dealing with to eliminate "uncertainty". (<-- woo! was just itching to insert that word which is so-oft misused by the media to descirbe getting shellacked by the market! No need for a show of hands...lol)
I'm still squeezing. I do have some germs of ideas, but they're only germs and some of them would even make ol' TB blush (definitely not fit for public consumption, lest I get run out of town for utter loon - well, more loon than some might think I am already). If anything meaningful/credible pops out I'll let you know.
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