LAKE SHORE GOLD CORP 6.25 PCT DEBS T.LSG.DB

RE:RE:Let's do the math

[yoda2]

geoffs : I agree it would be nice to pay off the debentures and avoid the large dilution that will occur when the debentures are converted --- another 70 million shares.

It seems this would only possible at there maturity date of Sept 2017.  Before then any offer to redeem the debentures (ie pay them back) can only occur if LSG shares are trading at $1.82 or more. And then, the debenture holders could take LSG shares at $1.41 per share.

So in all likelihood it seems the debentures will be converted to shares unless LSG"s  share price does not appreciably exceed the converswion price of $1.41 before Sept 2017.