I have no doubt that exercising the conversion is what will...

I have no doubt that exercising the conversion is what will happen considering BMM came to Australia with a billion dollars to develop nickel assets.

US17.5m is the face value of the note but I’m certain they didn’t pay anywhere near that from Jefferies

If they convert they will have a ~28% holding bringing them closer to a takeover bid that has now been reduced from 90%.

If they don’t covert they strip the company of well needed cash and risk being diluted by future capital raising.

POS have called them out. There is no renegotiation on the CN. They will never have this opportunity again.

The only thing that will stop them in the next 30 days is a market collapse or if they are controlled by bankers who want their billion back...