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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: Pianoman1997 who wrote (77910)	2/3/2023 2:04:00 PM
From: LoneClone	1 Recommendation Recommended By onepath Read Replies (1) of 78404

You are perceptive, because out of the blue we get the announcement from IAU of a $50M convertible debenture, quickly upsized to $65M. I figured that IAU had more than enough capital on hand to get everything built, so I am thinking that the impetus for this came from the other side, this being a case of "If they offer you money, take it". I don't particularly like the conversion price of $2.38 or the interest rate of 8%, but I know this management well enough that I am sure they will find ways to use this money to create value. And of course, every mining start-up is risky, and since they are doing four of them at once, it must be good to have this cash buffer, especially since production will remain minimal at this point (9332 oz Au last quarter). There are all sorts of details, including that conversion into shares can be forced if IAU's share price gets not too far above the conversion price. Here are the two PRs where you can read all about it. ca.finance.yahoo.com ca.finance.yahoo.com LC

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