Twin Butte Energy Ltd TBTEF

RE:BONDS NOW AT 11 CENTS

[HamSandwich]

Convertible Debentures aren't Bonds.  The beta of the .db and the common is almost the same, that tells you that the debentures get traded like they're equity.

So things like the bonds dropping 20% while the stock only goes down 6% can happen.

I mean how does this make any sense:

shares outstanding worth ~ $28 mill

debenture current market value ~ 9 mill from an 85 mill issue

Convertible debenture market in Canada is crazy and wildly inefficient at times.  It's far from the sleepy bond market.