This loan was organised way before the asset purchases. The loan was promised to develop Cannon from memory, but this promise was likely just a cover to keep ex managements lifestyle direction going, while a couple of them focused on their greed and selfishness of moving into the battery technology space (RVT). This loan was a horrible decision, especially the USD component which has clearly screwed us too. Anyway, i also think the share price will be a lot higher by the end of November, with multiple assets getting drilled out and extended and their further development to mining, refurbishment of the BC mill and 10’s of millions arriving from current production. They would be silly not to convert them if the share price is higher, which actually saves us money to spend on drilling, development etc. The downside is obviously as you say - almost 200million shares getting dumped and a similar situation to what transpired post POS merger when all those shares were sold on market taking weeks for us to churn through them.
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