With the SP hitting 10c last week the market has told them they...

With the SP hitting 10c last week the market has told them they can't have their cake and eat it so they have cut the cake in half to see if they can get away with that

The big problem with the loan notes was (/ still is?) that with that number of shares able to be issued at 6.5c they were preventing the SP reaching fair value for the company (even taking into account the dilutive effect). The most conservative estimate based on NPVs gives over 50c per share (undiluted), whereas a more realistic value is near $1 per share. If under this restructuring the sp can achieve these values, then fair play to them, however I have my doubts. I agree with Nur0 we should not roll over and have our bellies tickled by this. The best thing for now is to reserve judgement and let the SP speak. They need to get going on the marketing campaign again (AGM Slides say promotion and market awareness programme to be developed). If this works fine, if it goes nowhere then we have our evidence. So I am all for challenging them to get the SP to $1 shortly after Q3 report goes out at the beginning of Nov, otherwise they need to reconsider and push for further concessions.

As far as 'Jinchuan is committed to help Albidon to grow and become a Mid-Cap Producer that remains listed on the ASX' I think this is a response to a lot of what we said to them wrt to Jinchuan needing to restore confidence, but it does show they are sensitive to this issue. We would be wrong to pick at it now, but if we have to open up again it gives us an idea where to apply pressure.