GREY:STPJF - Post by User
Comment by
monzieon Mar 03, 2014 5:27pm
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Post# 22274872
RE:RE:RE:RE:RE:is patience an option though??
RE:RE:RE:RE:RE:is patience an option though??Actually rad the only thing they got right was their numbers from the amended credit facility - the facility was reduced to 85 million of which (as of Dec. 31st) 56.3 million and 2.3 million in letters of credit were already drawn. Thus leaving 26.4 million. That being said, Shat is right - this article is a joke and it's timing is quite suspicious as the only thing that has changed in the last couple of weeks is the price which unexpectedly jumped on Friday - and then sure enough the very next day this article comes out. Heck they even used a S&P downgrade as their basis which came out a month ago - why didn't they write the article then? I'm quite shocked that they didn't throw in the TD downgrade as well.
They made no mention of improved production, debt covenants being eased, or that it was actually STP that said May 31st is all they'd need it up to as that "aligns with the
expected timing of the strategic alternatives process". No wonder management chose not to respond to their calls.