The 85m warrants that the Board gave OCP as part of the 'deal' to defer the loan for 2 years convert to a shareholding of about 13%. In addition to the 33% they currently have, puts them at about 46%.
Do you think that will take "ten to twenty years" as you assert?
NB this 'deal' with the warrants is part of the evidence.
The 85m warrants and 13% interest rate on the loan extension convert to an interest rate equivalent of about 29% per year to OCP (plus a capital profit of, currently, about $14.5m)!
Would you say that these are normal commercial rates procras?
Finally, none of my group are trying to get on the Board, however, we do want Directors who represent all shareholders not just OCP?
DYOR!
AML Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
(20min delay)
