Especially given their new source of cash, CNNC, refinancing is a much different animal now.
Also, @thepick, I think the most optimistic punters on here are looking at say $40/lb, nowhere near $100/lb for a long time. A few think that the old PDN $10 SP is the aim. Realistically, even with the same spot price as last boom, dilution would mean max $6 anyway. A decent aim for this one is get to 70c CR level, then $1 and long term $2 to $3 would be optimistic.
Burn rate and Convertible Bonds, page-3
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