RE:RE:RE:RE:Time to force conversion of the convertible debentureI think you are missing the point.
Of course it is IVN 's option to force the conversion as you have noted above. They can pay cash but the cash payment is equal to the US$ value of 134.5682 shares, not $575 million in cash. There is no way IVN has that much cash to convert with cash. They will have to use shares to convert. The number of shares will always be the same. They can do nothing and let the debt mature in April 2026 but the principle will be the same.
So the question is do they convert the bonds now and issue the predetermined number of shares and see what happens with the shorts or do they do nothing and wait.
IVN has more options available to it now that it is in production and bringing Kipushi and Platreef into production. It should be able to access the high yield market just like FM did. FM raised $1.6 B at about 10% interest rate. IVN should be able to do much better, as they have no debt other than the convertible and are now a $20 B Cad company. Lots of options available for the company going forward.