At first glance this seems to be quite favourable terms? At a...

At first glance this seems to be quite favourable terms? At a small premium to last traded price, low interest at an annual rate of 4.50% (if paid in cash) and with the forced conversion clauses it appears management still believes in an substantial rerate.

From the Company Update section in the presso.

• more than 54,000 hours recorded on-site in 2022.
• Recent progress includes purchase and delivery of long lead item equipment and materials
• personnel and resource additions, pad site and foundation development, and drilling and completing all monitoring and production wells that will supply the facility.
• Continue to target mechanical completion of the SSBF in CQ4 2022
• Will provide project updates in a new Project Status section on the website
• 5EA/FEAM continue to see strong increases in boron prices, with average boric acid prices up more than 50% during CQ1 2022, as compared to average prices in 2020 and 2021.
• The Co recently executed a Letter of Intent with Corning Incorporated, a Fortune 300 company and one of the largest technical glass manufacturers in the world,
• 5EA/FEAM are currently in discussions with other customers who are similarly interested in ensuring domestic supply of boron and lithium.