Comment by
AIGswap on May 11, 2012 8:45am
Franco Nevada and West Face own over 40% of the converts. After conversion, these two parties will control the company. I assume after the debt for equity swap, these parties will vote through the AGA and GDO deals to get their principal back + accrued interest. Current shareholders will own a small sliver of the equity (
Comment by
valuearb on May 11, 2012 2:16pm
Don't the debenture holders come out better if the deals are voted down? Right now they are going to get almost 2 Billion shares, they'll own 90% of the company, and control it and the mines. They can turn around and sell the mines for the same prices and net more than what they'll get from simple repayment.