More like you have 2 options, (1) Convert to notes to shares with % royalties on 1st ore (or) (2) Potentially lose the lot "if" SDL could not repay the debt and declare bankruptcy.
No real choice other than to convert notes to shares, and hope that some sort of deal is struck where they will profit from the situation.
Sundance is still sitting on a precipice and the life line they hang onto is as strong as a piece of cotton atm.
Money in the bank at last, page-144
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