Seberhardt,
Nothing to my knowledge in current debt terms suggests holders have a right to unilaterally convert to equity ( ie they are not convertible bonds).
If there was an event of insolvency, there would I think be a global auction, in which the current off-take agreements may not be secure.
Given the rapidly improving market view of mid to long term spod prices, and Altura's undeniable leadership in the quality supply space, suggestions that the value of the asset is less than the current debt amount are, I believe, laughable.
So, its a game of bluff, I reckon.
Seberhardt,Nothing to my knowledge in current debt terms...
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