New Mongolian PP at $1.60?Little over a year ago, STGO had a NR that included this
The convertible debentures will be convertible at the option of the holder into common shares of the Company (the “Common Shares”) at any time prior to maturity at a conversion price of C$0.90 per Common Share.
Then when deal closed it was this
As a result of higher investor interest, the Company intends to accommodate additional orders in a further tranche of US$2.0 million, to close following receipt of shareholder and regulatory approvals. The Debentures will bear interest from the date of closing at 10% per annum, calculated and payable semiannually in arrears on June 30 and December 31 in each year, commencing on December 31, 2019 and will mature on July 2, 2021. The Debentures will be unsecured obligations of the Company and rank pari passu in right of payment of principal and interest with all other Debentures issued under the Offering. The Debentures will be convertible at the option of the holder into common shares of the Company at any time prior to the close of business on the maturity date at a conversion price of US$0.52 (Approx. C$0.70) per common share.
AKA the "Mongolian discount", so if it's a flat 20 cents CDN off, do the math.....$1.60-$1.66, if it's a % discount , 22% discount so $1.56 . Must be nice to be a Mongolian investor, CDN ones...even ES get screwed
JMHO based on what's happened in the past here