RE: Last one? In response to an earlier question – Metanor does have to pay 20% of all gold, including bulk sample gold.
I do not know how much strategic thought was given to the timing of raising this additional working capital, which may not be needed until after the announcement of the updated feasibility and mine reserves. The three year term debentures can be converted to shares at 0.28c or cash at the market value of the shares at any time, at the option of the holder.
By RP’s own evidence, the shares should be worth close to the infrastructure replacement value of $1 per share, before ore reserves are taken into consideration. Therefore, apart from the 6% intro fee and 10% interest rate, Metanor also seems to be parting with a slam dunk capital transfer from existing owners, to the brokers friends.
If this additional working capital is required, then why was it not raised after the feasibility, which cannot be delayed much more, at which time the conversion may have been at circa 0.40 into Metanor’s treasury.