Converting all at .01c would be a very risky move for them. You really wouldnt want to end up with hundreds of millions to sell and no buyers. They will continue to convert only as much as they think they can offload in a reasonable timeframe. As the price gets lower they need to be careful that they dont completely kill the liquidity. (if they did convert it all, that would be such a bullish action that it would be like a neon sign pointing to insider trading lol)
As the price gets lower, the incremental drop in percentage per pip becomes greater so they start risking their ability to break even. I would say around these current levels are lower as they would feel comfortable with.
They cant just sit on their notes and wait for better days down the track because they cant convert it all in the last month or two and expect to sell that kind of volume without losing. They really need to keep drip feeding the conversions through these quiet times so they arent left with a lump sum to deal with. For now they have to play today as today.. they deal in risk, and risk management is the name of the game for them.
Im sure they are eagerly looking forward to being able to offload into a sea of hungry buy orders in the near future.
ANW Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
