Ann: Positive Assays Provide Development Options at Oracle Ridge, page-21

This is my concern.

Current MC of 30 million - CB has issued the company a loan for 3 mil. That's 10% of the current MC.

If you take into account the shares CB owns (approx 30%), he's getting up to the point where he technically owns more than 40% of the company.

If the SP drops further he'll get to the point where he's owning + owed >50% of the company - if the loan matures and EM2 have no way to pay it back (say, they can't raise the capital) he could force the company to receivership and he'd be first in line to be paid back as a creditor. He could just say, sell me the business for what you owe me. The company gets delisted, CB owns 100% of it again and he can continue to fund it himself, with maybe some private equity until the market improves.

And if you scoff at this, it wouldn't be the first mining project in the world where impatient creditors get the asset for cents on the dollar.