Ann: First Gold Pour Achieved - Lorena Gold Project, page-19

Exactly, @Money made . Con notes must be factored into any MAR calculation.

I understand you are bullish on the company, but you must also be a realist.

As to which way they will go with the con note (pay back debt with interest or let them cash it in for shares), unsure at this stage. We have to wait to see how a quarter or two of open Pit Lorena production and drilling goes.

My gut is saying pay back with interest. DYOR as always.