E$36 million = AU$47 millionTranscor won't accept conversion at...

E$36 million = AU$47 million

Transcor won't accept conversion at 45 cents given it was pumped up prior to trading halt. Also, Transcor knows that the shareprice would probably have been lower by now (if not for the trading halt) and following their decision to play hard ball and lack of alternative finance options. Transcor might accept 30 cents if they are excited about getting hold of the tenements themselves (albeit through EPG).

That would require the issue 150-160 million shares, compared to 190 million shares already issued. Might not be such a bad result really, considering it was 15 cents a while back without significant drilling or other news since.