WTH?!
So if HRZ repays the whole CN say $15M on 1 July 2025, they still give Nebari $15M in options at the same price plus 18 months time to convert.
This is pathetic, not even Jeffries with POS had such a right.
Normally if the CN is repaid in full there can be no share issuance at all as the the lender must choose between the cash or the shares as they still get interest during the term.
So why would HRZ repay this early, wait till the end and then let them dilute and keep the $15M cash at bank, this hovers over the SP like NUTS on a bull.
No point paying them $30M in shares and cash is there?
Its basically rigged to ensure they convert and no early repayment
WOW, POS BOD had a way better CN deal than HRZ have.
The POS BOD were better than HRZ BOD with CN deals ! LOL !
Didnt help them in the end as they had no B@lls to restart the projects even with NP up 500%
POS BOD couldnt start up production and revenue despite 4 false starts and $70M cash LOL !
They were flaccid and their top 3 were useless as was former chairman backstabber AFAF who sold POS down the river to 0% holding from 33% when he shoulda been buying only to blow $1,200M cash on black hole loosers MCR & Noront instead with NO MILLS, DUNCE !
Very different here though with GP over $5,000 and production/revenue flowing.
Plus no dummies BMM AFAF to deal with.
Maybe they should renegotiate this sweetheart deal, run it out and dilute or renege on it and pay it out instead. Or wait on the election and then pay it out but why would you take cash when the shares may be multiples higher?
a 100% ROI plus interest or worse still 200% guaranteed return on early repayment is ridiculous imho.
I guess thats the answer, get the production & SP up and use the CN funds for BSwan MILL restart.
But beware never ending ANNUAL dilutions was the downfall of POS.
Better issuing paper than removing cash I guess.
Same as how they got POS, via a paper scrip swap.
The power of paper !
No point paying early and paying double imho.
HRZ Price at posting:
6.4¢ Sentiment: Buy Disclosure: Held
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