Have not read the presentation as its printing out but the acid test for me is if you had $250,000 would you pay up for the notes or buy the shares now at 1.1 cents.
If you wait for SRH 5 to start producing thats a few months down the track. If you owned the notes and the 5 day SP was 1.2c in a couple of weeks you would convert at 1.1c and have to rely on the interest to be in front. If its 1.3c in a couple of weeks then you are losing and will have to wait for oil to flow to get a % of the wells profit.
If the share price is 1 cent or lower and you hold the notes then the company is not going to attract investors to buy the converted shares anyway as they will all convert in unison and fight to get their money back with each tick down more than the 10& discount.
A tricky deal for all... Only the future will tell the result.
Good luck all
GGP Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
