If the SP drops to 1.4c or lower Mercer Street won't be converting any more of the debt con notes to shares which will mean MXC will be required to repay the debt facility with cash or risk having Mercer Street basically foreclose on them.
Can't see where else they are coming up with the money at this stage and they have approx $7m in Liabilities owing not counting the debt facility.
Death Spiral finance working a treat....
MXC Price at posting:
1.6¢ Sentiment: None Disclosure: Not Held
