GREY:PTQMF - Post by User
Post by
wwadehammeron May 07, 2012 4:48pm
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Post# 19881650
Hurts many ways
Hurts many ways This debacle is not just a minor hiccup. When Deutsche Bank loans us money it's at 5 percent interest, right? Wrong, its around 25 percent when you look at the metal price discount. One of the reasons we're paying 25 percent interest is that management doesn't do what it says it's going to do and the Banks don't trust us. We're lucky we can get 25 percent with all the misses and trouble we've had. This lastest debacle will hurt big time when we go to borrow money (probably 100 to 200 million dollars) to start up LomPoy. An extra 5 percent interest rate from the banks will cost us at least $5 million per year for ten years. If you believe this is nothing, your dumb.