Have to agree 100% with this John. I am not sure why any retailer is complaining right now about the CR price as we can all buy for exactly the same price as the instos. As far as the price is concerned we are all >$100 million Sprott clients.
I would be very surprised if WAF would have got US$200 million in debt without the CR. Financier aren't in the business of taking risk and want the buffer provided by a large raise. The debt and the CR are not independent variable and WAF would not have been able to raise the debt without the scale of the CR.
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- Ann: Capital Raising Presentation December 2018
Ann: Capital Raising Presentation December 2018, page-114
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