When nbri issues hundreds of millions "if not billions" then perhaps you will be right..O/S at 208 mil is a long way from your scenario and your opinion is just that..
OIC. So it is better to dilute shareholders by selling your future revenue stream for pennies on a dollar instead?
Do you have any idea how many mines Waterton and their ilk now own from defaults on gold loans where the mine itself was used as collateral?
At least the type of convertible debt NBRI has issued is unsecured. When conversion occurs shareholders are diluted but NBRI keeps its assets. The conventional debt you speak of is secured and the entire company is at risk if they dont hit their milestones.
Shelf offerings are also very toxic. ABX recently did a shelf offering for over $3B at a steep discount to the market price. How is this not toxic debt? Massive dilution and the institutional investors get a sweetheart deal while the retail investor gets the shaft. So this is better? LOL!