RE:2 GrandInterest on the loan is at 6%/year
That works out to about $2,070,000 interest for the year.
If converted to shares at .02 = 103,500,000 shares per year (and that's just the interest)
If converted to shares at .015 = 138,000,000 shares per year
Then, there's the principal amount.
They may need to extend the loan, where FNC gets an even more favorable deal to agree to the extention.
Something similar happened with Noront with a 15 million loan that dragged on for years
Then they added another 26 million when they aquired Cliffs properties
A long time ago, when commodities were doing well, KWG was offered I believe about 125 million from Cliffs, which they turned down. Spider (SPQ) was made the same offer and accepted.
So Cliffs had FWR (270 million) property and SPQ property (125 million) and let it all go, which Noront picked up for $26 million.
Granted, KWG has the 1/3 interest in the same properties as SPQ that Wyloo now owns, plus FNC property, plus surface rights, plus patent for chrome.
I think it's inevitable that Wyloo will want all that, it's just a question of when.
Maybe Wyloo waits it out and negociate something with FNC as they accumulate shares.
It's been since about 2007 and nobody is getting any younger.