Dott, you are absolutely correct in saying that this may...

Dott, you are absolutely correct in saying that this may possibly go pear shaped.....nothing in life is certain, and speculative investments are less certain than a lot of things.

If things go pear shaped, we're sunk, and the conversion price will be the least of our concerns. But, to my way of thinking, you have to be an optimist to invest in small cap miners in the first place, and you have to have faith that the macro environment won't completely tank, the sovereign issues won't destroy your investment, and management can effectively execute their strategy. If you believe in all of the above, you place your bet go for the ride. If you don't believe, you're better off taking your money off the table and putting it somewhere safer.

One thing's for sure, if it looks like we can't execute on the strategy, whether it be through management's fault or macro/sovereign issues, I won't be hanging around to see a low ball conversion price.....but nothing I see right now makes me feel this will be the eventual outcome.