@SalubriousGut says they have it covered either way..
Now as of Aug this year when the last tranche was issued there were 109,031,314 options on issue, exerciseable by April 2023 at 13c. Which according to the figures is approx $14m in cash to go to the kitty should those who hold see value in converting.
Now unless they benevolent benefactors the SP will need to be a fair north of here for them to convert so the cash is on the line, or is it?
Catalysts for SP movement are as you say;
1. Confirmation of positive outcome in Arbitration hearing placing the result beyond doubt.
2. Increased resource upgrade and significantly improved SS metrics at La Demajaguar
3. Confirmation of funding for La Demajagaur and decision to mine.
4. Increased target estimate at El Pilar oxide cap and further appraisal on start up mine potential
5. Significant potential upside obtained on receipt of the report from Geosmining in relation to the New Horizons concession (In particular the reference to Antonio as per the ann dated 21 Dec.
And maybe one other??
You see things are rolling and when that happens the last thing you want is to be caught short of cash & hence why I believe Brian and the team are a mile in front of where people think they are.
The company themselves telegraphed the plan as late as 26th Oct this year so I personally feel the opportunity to get in lower "as it were" are fading fast. The brother below here tells it best!! The other price catalyst could well be a strategic shareholder coming on board.
You see if the SP lifts then $14m comes in and everyone's happy.. If not then the 109m shares may otherwise be set aside perhaps for a strategic investor via placement for an amount to be agreed upon but which you may think is around the 13c per share mark less any agreed discount.
The hook being one low capex mine at DFS stage, another even lower capex oxide mine at MRE stage with DFS scheduled for Oct 23 & the potential of other amenable near term low capex mine ready plays..
As it is the conversion price on the oppies when fully diluted (25% inc to SOI) assumes an EV of circa $56m
Personally I still think that's cheap, all things considered and it's looking like a win / win regardless and still no need for an extra $45m cash. Though it will, sorry would, be nice if it eventuates.
So GLTAH H8tey
(20min delay)