Ann: Tietto Lenders Convert Loan to Equity, page-2

An interesting outcome, which... I am leaning towards as being positive, mainly because... the lenders have perhaps realised that TIEs share price has already bottomed, and as per the lending agreement, they can choose to convert the debt to shares, at.... what I think they have decided is a low point.

The actual dilution is fairly minimal, at 2.95%, which injects approximately $11m AUD, which bolsters their cash position to approx. $56.3m AUD.
While the company has been fairly quiet about the smaller debt facility, it has been sitting there since the start of the year. The lenders could have instead asked for the loan to be paid out, but.... they did not, they chose equity. Which I believe supports my above thoughts (we will see of course).



Hopefully TIE can provide the market with an update in early November production wise, to further solidify the recent share price recovery with real outcomes being met. In the end, TIE now has more liquidity, which... if things go well, could be used to speed up the debt payments on the the other loan and/or focus on the heap leech expansion.