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Gold/Mining/Energy : Silver prices
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To: long-gone who wrote (4117)12/21/2001 1:55:06 PM
From: goldsheet  Read Replies (1) of 8010
 
Since you mentioned CDE, here is another way to play it

Their 13s03 convertible bonds are trading at $660
They are convertible at $1.35, which is 740.74 share per bond
With the stock at $US0.80, the conversion stock value is: $592 (740.74*.8)
The bond is at only an 11% premium to conversion value,
and may be a safer way to play CDE.

If the stock goes up from here, the bond should track it pretty well.
If the stock goes down and/or the company fails, the bondholders will get something, while common stock holder just get screwed.

Not suggesting one buy CDE, just putting out the numbers.
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