Not really so horrific. Quite reasonable for mine.
They have a two year maturity date. With a floor of 1.5c, and a cap at 4c.
Its essentially gives us a bit of bridging finance, until the arbitration news, or JV news comes with a cash injection. Theres too many upswing catalysts for holders to panic over a bridging loan.
Only 1m, and would need shareholder approval to the other 2m due to placement capacity.
Its not horrific. I've seen much worse. And other companies in much more dire straights who dont have the upside that we have.
Ann: ANTILLES GOLD ARRANGES UP TO $3M OF CONVERTIBLE LOAN NOTES, page-6
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