pala converts a$14.8m of convertible bonds, page-7

Hi Angers, The question for me is will Pala hold their shares. If they do then your scenario of good news in the future is the likely outcome. However if Pala need the money up front then converting their bonds to shares may be a way of of providing greater liquidity for Pala. I hope the situation is the former and not the latter. Disclosure: I have been considering buying AVO.