Presume you are implying this is a bad deal? Is it ideal that they are paying 12% effective interest, no. Do I prefer it to permanent further additional dilution at VWAP -15% at a low price - absolutely.
Also 12% is not so bad considering other deals by supposed producers:
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYD4Q6%2ByRaZrvRjke92GA%3D%3D
8% secured over assets & 10% unsecured...
12% for a non producing company funding exploration/feasability is not so bad imo. Main thing is no equity dilution right now.
At least the doc. Seems to have got the lube this time.
Presume you are implying this is a bad deal? Is it ideal that...
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