RE: RE: RE: RE: Virtually No Shorts I don't think Nolan wants to dip into SSL's LOC. There is a conflict of interest there. SSL has already committed $70 million to Premier Royalty, leaving $30 million to SSL.
My guess is they (SND) should be able to obtain a LOC themselves from the banks at the minimum of 1.0 x cash flows (~$15 - $20 million).
So in maybe 4 months time we'll get a NR they've secured a LOC, part of which could hopefully be used for a new stream.
It's painful to think about the $85 million we've sunk into essentially non-starters.. $15 million to RDA, $30 million to NDX, $25 million to TBD (still operating but at these natural gas prices it won't offer a meaningful return for 2-3 years), and $15 million to Terrex.
Seriously, how painful is that! $85 million!