thanks. based on the con note then a 10c CR makes sense for the isurers, so they can more or less get the max allocation at a 20% discount. $1.8m will keep the lights on for the time being and they can raise 2 to 3m for some light drilling. I'm guessing then MTM will try to raise when it hits a 5 day vwap of 12c to 13c and offer the raise at 10c which is ~20% discount with free attaching options of sorts. if they achieve that then they have done pretty well IMO.
thanks. based on the con note then a 10c CR makes sense for the...
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