Thats correct Tradedemon .June /july , Nkwe said for the resource upgrade . I am surmising thats why the convertible note has been delayed till around 15th july so we can get some good news to propel the share price along . Hopefully ,the resource upgrade is a bottler, and it comes out before the convertible note deal is done .I am sure that is their strategy . The convertible debt instrument ,as Nkwe call it, for $20m really needs to be put into context .It is a relatively small amount ,and will arguably add more than that value in assets . The deal with IGC was a big win for Nkwe as they have avoided a larger dilution by gaining much more time for the second tranche of $40m . These have been really smart moves by Nkwe management ,against huge pressure from Sage for them to cough up $60m cash at the end of the option period . Management should be commended for their steadfast approach to this obvious pressure .
NKP Price at posting:
35.0¢ Sentiment: Buy Disclosure: Held