Ann: Agreement for the Sale of Non-Core Mining Royalty, page-8

The "debt spiral" vultures are unable to convert into equity below 1c old money, 20c new. They must wait on the sidelines, hoping like hell they can get their capital back before the end of this ride.

There is an arbitrage opportunity here for adventurous speculators up to 20c. Once that mark is hit, the price watch out for the rinse and repeat from the company's most recent lender of last resort.

A little more money, subject to conditions of sale being met, will buy a little more time. But that is it

This is not a place for the faint hearted or the dreamer.

GLTASH