Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
AIM-listed technically insolvent John Zorbas POS URU Metals (URU) announced yesterday that it has for the second time extended the initial 90-day initial notice period on its convertible death-spiral loan by a further 90 days. With the shares at 260p, the initial deal to convert the loan is massively more attractive for the loan shark than the 35% discount that would otherwise apply – so why is URU doing this?