loan to CMMHow much cash is still on loan to Century? EC just took another hit on dilution because of that loan, so it seems. Management should have exercised wts/options, at any matter price, to make up for the risk taken with EC's treasury.
If the loan is still out, at this point it does not matter how 'manageble' the risk was percieved to be. It was unnecessary. EC has been subject to too many delays and mishaps, expected or otherwise. The decision makers shoud bear the consequences of that risk taken, not shareholders.