RE:RE:RE:RE:RE:RE:RE:RE:RE:ProductionThat is why if you like the uranium sector, Fission is a great buy. With their shallow, high grade deposit, it's considered one of the best U finds in the world. Once they finalize their financing and the fact that they still have 80% of their land holding to be explored, the upside is tremendous. We just need to see the U price start to move up.
Greenday wrote: @ mylifeisgood - The 2016 Debentures and 2017 Debentures are convertible, from time to time, into common shares of the Company at the option of the debenture holders at any time prior to maturity at a price per common share of US$2.3261 and US$2.6919, respectively (the “Conversion Price”). Pursuant to an amended and restated trust indenture dated July 21, 2017, the maturity date of the 2016 Debentures was extended to July 22, 2022.
As you can see NXE has about a 28 month runway for the market price of NXE's shares to exceed the conversion price. If NXE's market share price doesn't exceed the conversion price then Li Ka-shin would be better off taking back his $120M US in cash rather than taking NXE shares. Either way NXE will have to settle it's existing debenture and arrange for additional operating capital if it's cash burn isn't curtailed as NXE will not be in production in 28 months. Could be a double whammy for NXE - you never know.
FCU doesn't have any of that financial risk so I'd rather have an industry partner which affords the option of diluting the outstanding float by choice and not by necessity.