Great that it provides cash need. Downside is that unlike a...

Great that it provides cash need. Downside is that unlike a placement it concentrates control in Azgaga's hands. With 35% and no other large holders they would have effective control. I haven't done the maths (so don't shoot me if i am wrong) but once this new WC facility is converted Azgaga I would imagine they will have absolute control.

30% conversion premium if the loan is converted within 6 months of the due date is fairly steep too

That said, I can't see a whole load of other investors lining up to put money into uranium right now.

Interesting to see how it all pans out with the Powertech-Azgaga deal going on at the same time.