Regardless of how easily it can be repaid or whether new shares...

Regardless of how easily it can be repaid or whether new shares can be issued to cover it, the fact remains that they have gone from a position of ABSOLUTELY no debt & $20m odd in the bank 18 months or so ago to the current position & that, in my view, has considerably weakened the market's fundamental perception of the company.

As for the line of credit, are we absolutely sure that it is CMR's right to repay it with shares if they wish, or can the lender opt for cash repayment? In which case we could be looking at considerably higher dilution if the funds were needed to be raised on-market.

& the $11m funds still to come from HNC ..... why is it that they seem to always be paying in arrears while CMR pays up front for jv costs ????