have a look at the terms of the con noted written and issued to Standard chartered. Unless i have missed something the notes get redeemed in August 14 however 25% can be redeemed anytime. The eye opener for me, assuming im not wrong, is standard can only redeem them by converting into shares at a conversion price at .03. Am also right in deducing that the board of the company and the bankers have a common member.
To me this seems like the worst you are going to do is .03 next August. banks have a habit of squaring the books.
The thing that will give this recovery story one hell of a boost is the sale of Mt Muro.
finally am i right in that Glencore the gorilla is sitting on the register with 11.3% of the stock?
Id say the selling today is that institution with now...under 5% holding. smashing it out with some attitude would be my guess.
Flux
SRQ Price at posting:
0.9¢ Sentiment: ST Buy Disclosure: Held
