Thrifty, I've always been clear I like asras tenaments. Mainly tyrannus, also supportive of there cause.
So what I say is balanced.
The Convertable notes issued in Dec 2022 have a trigger in Dec 2023. In 8 months.
That is.
1. Conversion can be had at 3.5 Or 2. Note holders have the option to take there money back.
If they opt for money back, asr needs to raise 2.6m as upto 18% interest is payable on the notes.
The notes paid out riverfront. They did not provide capital to explore due to potential payback.
Already there is tightening and I'm not 100% sure if asr will be able to raise 2.6m to basically cover refunding.
Had the sp been plus 3.5c.all would have worked beautifully.
Limited exploration has always meant it was never going to occur, unless a miracle occurred in REE or if bullionfx suddenly did what they said they would do.
Very quiet on the bullionfx front and doubtfull that ever crystallises.
I'll watch for re entry.
ASR Price at posting:
1.0¢ Sentiment: None Disclosure: Not Held
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