GREY:SWYDF - Post by User
Post by
lovecaratson Jun 11, 2019 3:26pm
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Post# 29816252
2 CENTS CLOSE and 34 MILLION TRADED
2 CENTS CLOSE and 34 MILLION TRADEDMust be the patient has slipped into coma.
Likely prognosis: BRAIN DEAD.
Gotta wonder what company would be interested in taking on $500 MILLION IN DEBT - especially in light of the fact that re-stated RESERVES = practically ZERO (save for the stuff that is fully developed, say 1/2 yr production at most, or roughly 1 Mt).
Including typical 'work-in-progress' diamonds, possibly 500,000 ct, that would give the purchaser roughly 1.5 M ct to sell, or 1.3 M ct after streamer's take. Enuff to pay some bills and severances and put the mine on life-support.
But wait, once diamond production stops the Streamers have first call on assets to the tune of roughly US$250M. OOPS.
Bottom line: SWY is roughly $800M in real DEBT with little hope of resolution IMO.
And Matt is counting his money...
LC