GREY:CXEYF - Post by User
Post by
mind_businesson Feb 04, 2008 7:30pm
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Post# 14316878
EBB Project costs ???
EBB Project costs ???I think the biggest question I have for management is to explain how the entire $49 million was used. Per the quote below, this line of credit was largely intended for new business development opportunities. Hopefully this is at least partially what they used it for.
The completion of EBB I can wait for, however I want to get a better sense of management's ability to control costs related to EBB. If most of the cash went to fund this project then I will start to lose faith in management. The delays due to weather no doubt increased costs, however $29 mil is excessive.
Quote:
"The credit facility was established to provide financial flexibility, substantially for new business development opportunities and also for support on continued investment activities in Tunisia and for general working capital purposes."