rowingboat
I was wondering this myself.
Perhaps it has something to do with other gold derivatives they hold, eg put options (see page 111 of 2009 annual report). We will know more when they release the 2010 annual report, unless we ask them directly.
I am wondering how many of the 151 million RSGG will be converted into shares. If RSG can get full conversion of the remaining options of around 54 million plus have some cash on hand then perhaps there will be no need to have the Notes converted into shares. Am I right in assuming that RSG can determine whether any or all of these Notes can be converted or simply paid out? What assumptions are you making about the number of shares on issue by early January 2012?
loki
hedges gone!!! , page-7
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