RE: The PP makes FPX look bad FPX raised good money in the worst environment, and within weeks.
The only bad news is that it was done on 0.60 flow-thru. This means that the market will discount 25 - 50% by the time of exercise.
My best guess is that FPX minimized financing, rather than sell out the farm.
Now that agreements are signed, financing is done, and the season is right, it is time to drill.
Drill ....drill...and keep drilling until the bits melt...lol.
With good results...