As for Ridge Mining deal that was eventually sold for $37m of which just $4m went back to their shareholders, check out the debt that the seller side had at the time when the asset was sold.
You can see the same type of companies, high leverage, getting destroyed when it was time to refinance. Check out MBN, NXS, DML, GXY to name a few. You can even place LYC in this as well.
If Zijin still had the convertible bond as debt rather than converting it I would be worried.
NKP Price at posting:
6.1¢ Sentiment: None Disclosure: Held
