33% dilution IF share price stagnates and full amount drawn - both unlikely but possible.
The wording of the lender is interesting as I presume the books and negotiation trails have been shown to convince him to lend.
C/M Capital Partners, LP Managing Partner, Jonathan Juchno said:
“We are excited to partner with Magnetite Mines through this transformational stage while it completes its strategic partnering process for the development of Razorback. We see a significant value disconnect between Magnetite Mines’ current market valuation and the strategic potential of their multi-decade asset. With strong long-term prospects for high-grade iron ore products, we are confident in the management team's ability to advance the project through key milestones expected in the coming months.”
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