RE:2018 DEBSThe debs were bought and trading at .65 on the dollar. Check the trading price. If they were trading at 100 then it would be 1.95 us. look at the price of t.gcm.db.u
snoopdogs wrote: Correct me if I'm wrong but you guys are talking about 2018 Debs converted at $1.70 ???
As I read the release they are converted at a price of $1.95 US ! which is approx 2.60 Canadian. With that being said at full conversion that would add 23.5 million share to the 20.5 million currently. I personally would mind them cashing in because that would allow more institutions to get in with higher volumes and a bit bigger of a float. At $2.60 Canadian with 44 million shares out, we know the 2024 debs will be bought out in full before their conversion. With $825 AISC, producing 160,000 OZ per year, EBITDA 66 MILLION and climbing, 14 MILLION OZ in the ground and climbing, old # being replaced by stellar new # this will only climb. I feel even if gold just stays within 1250-1300 and with out a stop loss raid or a shaking of the tree one last time the share price should climb close to the $2.00C mark before Q1 release. After Q1 with all the new numbers are digested my guess we would be close to the conversion amount of 2.60 by June. I would guess that not all the 2018 deb holders would convert right at that point, I think showing great strength now they would hang on to them for a higher price. Just my two cents, I'm finally glad to get out of that 9-10 cent rut. This looks better than the CRK/ NMI deal, that went to five bucks in no time before being swept up. Our lengthy wait and patience will hopefully reward us soon enough. GOOD TIMES COMING! GLTA