Denominator stays the same ... i.e. 1.233 B shares on issue now, prior to raising.
A potential total number of new shares to be issued as part of this process is 578.8m including all later conversions.
Conversions are all at a relatively low 30% above trading halt SP ... thus, you can assume that they will all get converted if BDR survives its current state.
If the conversions do not occur ... well, I think it's safe to assume (former) shareholders will have already lost everything.
Above is immaterial, IMO ... BDR is simply a 'do not touch' unless people are looking for a lottery ticket, but even then, the payout if the lottery ticket 'wins' has just been materially reduced and, IMO, it looks like the probability of a 'win' has lowered (due to Sprott financing not proceeding and conditional nature of T2).
Cheers
John
BDR Price at posting:
7.2¢ Sentiment: None Disclosure: Not Held
