Yes dott but maybe Mykalla will hesitate before publishing complete nonsense from JB like this again. (See I can be an optimist too !).
JB said had raised convertibles on good terms but if there is any borrow and investors can put that instrument on its 50pc delta its near riskless investment. Unhedged still crazy cheap for investors. Further, even on those terms they only got $10m of the $25m that they said they were going to raise way back in middle of last yr. Perhaps there will be an announcment soon on the availabilty of the balance. Not sure why its held back.
The excitment about project financing was extremely rich too I thought. After they had emphasised at the 19 Oct cap raising that it left them LESS reliant on project financing. The fans here lap it up tho. As long as we can keep 70% debt funding new projects are great someone said. Or something like that. These people live in a parallel universe it seems.
CCC Price at posting:
76.0¢ Sentiment: ST Sell Disclosure: Not Held
