I should add to this that a more bullish case- of NCM making a payment, of CKK getting much more than $3m for their assets, of some better outcome for CKK with the drill (without lengthy court battles), and of CKK having already paid redundancies, makes the "value" proposition much greater. The con notes having a two-year expiry date also puts less pressure on the company. Auction date @ 27th March will tell its own story.
CKK Price at posting:
1.1¢ Sentiment: None Disclosure: Not Held