financing is here 100% to glencore, page-4

"Convertible at YTC’s option at $0.251 per share"
"Maturity date: 60 months after execution of definitive agreements"
Similar for facility B.

If I get this right, the convertible notes are only convertible if YTC choses to do so. And we got 60 months to pay it back instead. Plenty of time to make a profit from Heras gold and avoid conversion ...
(otoh, the stuff on the bottom of p 3 reads differently ... ("to be sought at the same shareholder meeting") hmmm ... 6 months or 60 months ?? that makes a huge difference ...)

Anybody who can clarify / ask management?

Also:

Other key terms to the Project Finance Facilities include:
? No establishment fees;
? Each of the facilities may be drawn down in multiples of US$1 million;
? Repayments of principal and interest will be deferred until the earlier of Nymagee production starting and 30 months after execution of definitive agreements;
? No hedging requirements;
? No restrictions on the issue of future equity; and
? Life of Mine Offtake Agreement for the base metal production of both the Hera and Nymagee Projects.

"YTC will grant life of mine offtake and marketing arrangements to Glencore in respect of base metals concentrate production from the Hera and Nymagee projects with YTC able to sell precious metal dore production at its sole discretion." That's a reasonable compromise ...

So far i mostly like what I read ... glad I picked up another bunch at 0,22 ...