Re "So that got me thinking, "Well, maybe I'm being too harsh....

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    Re "So that got me thinking, "Well, maybe I'm being too harsh. Maybe they had little alternative to go the debt route [*] . "

    Yes, I'd say there is a strong argument to say that is the case. In June 2016 we were told the equity facility would provide the financing and, further, that "it is very important we do not take on debt".

    Fast forward 21 months, and I think the CEO has done the same simple mathematics (as others have done) and realised that generating the cash required via the equity facility (with the associated increase in daily volume) would most likely lead to the sp getting a thrashing.

    Other capital raisings would likewise be debilitating, so debt with it's own set of conditions may very well be the best of the bunch.
    Last edited by aatisket: 07/03/18
 
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