Hi Loki and all, I think I'll stand by my 47% dilution....

Hi Loki and all,

I think I'll stand by my 47% dilution.

Denominator stays the same ... i.e. 1.233 B shares on issue now, prior to raising.

A potential total number of new shares to be issued as part of this process is 578.8m including all later conversions.

Conversions are all at a relatively low 30% above trading halt SP ... thus, you can assume that they will all get converted if BDR survives its current state.

If the conversions do not occur ... well, I think it's safe to assume (former) shareholders will have already lost everything.

Above is immaterial, IMO ... BDR is simply a 'do not touch' unless people are looking for a lottery ticket, but even then, the payout if the lottery ticket 'wins' has just been materially reduced and, IMO, it looks like the probability of a 'win' has lowered (due to Sprott financing not proceeding and conditional nature of T2).

Cheers
John