That certainly true but that has been the case for quite a...

That certainly true but that has been the case for quite a while. I wouldn't be so sure of the veracity relative to the current SP either.

If I was management and I thought the issue price of my equity was unreasonably low. I would issue a mix (cocktail) of equity and hybrid equity i.e. convertible notes with a conversion price of say 12c (the interest rate of the note being the balancing determinant and think 8 or 9% would be reasonable).
I've seen it done, with several smaller mines. MZI and Aurelia to name a couple.
whats more I hope all the time they're taking is to get tings like that right (not sit on their hands) as some (most?) envisage.