ALB albion resources limited
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Just to clarify the situation on the Loan Notes. US$20M of debt...

  1. drunkensailor1
    104 Posts.
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    11/04/11
    01:29
    Post #: 8243854
    Just to clarify the situation on the Loan Notes. US$20M of debt is in convertable loan notes. The notes are convertable at US 6c per share. If all are converteted then the number of shares in circulation almost doubles - check the annual report for exact numbers, but this is the reason why EPS Basic was 18c but EPS fully diluted was 9c.

    According to David Round the company does recognise the dilutive effect of these notes and has come to some arrangement with Jinchuan that will not be as bad as full dilution. He could not give details, but it should be announced in the comming weeks.

    Indeed there is now quite a good flow of positive news to come over the next few weeks and I would expect the SP to rise quite strongly as it comes out
    ALB Price at posting: 15.5¢ Sentiment: Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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