Yes, I do think you're wrong on that point, FO. I think you're remembering the reference to whether the money would be used "to fully fund the construction of a standalone in-situ recovery and uranium processing plant at the Four Mile Project (if that were the best option)." (Chairman's letter to shareholders).
The company can redeem the Deferred Share Rights if: NURA increases its interest to more than 5%; makes a takeover offer; doesn't require the conversion or there's a contractual default .. That's how it reads to me
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