News: EQX Equatorial Resources Subscribed For A$10 Million Unsecured Convertible Notes In Salt Lake..., page-4

Haha yes, had the same thought. Because the company is currently trading below net cash it's still an interesting investment. But this deal is definitely not the best in the world for EQX shareholders. The conversion into shares will very likely take place in one year. By then the share price will already have risen strongly if SO4’s production start remains on schedule. For SO4 that means less dilution but EQX will then enter at a significantly higher share price. And a 10% discount on the share price is not very much. It is really basically nothing more than a loan.
It also means that the company won't need these 10 million within the next year for acquisitions. And if we look at the current price developments in junior mining, there could probably be no more big bargains in the near future.