RE:RE:RE:RE:Wall Street Journal 'feel good' article...Almost all the reduction came from working capital deficiency reduction, the bank loan actually increased by 20%. if you spend less in a price stagnant environment your working capital deficiency will reduce ,we knew they had reduced capital this year so the result is obvious.
The intended consequence of this deficiency reduction is the company is not growing or expanding exhisting resources in Canada.
hate to keep rminding everyone their D/CF is twice their pier group and when the debt does come due it will be renegotiated under stricter terms and much higher rates or the lender will demand they raise the cash through a stock issue to dilute shareholders and use the cash for debt payment.
this company will be saddled with this albatross for many years to come and there are much better options out there,
bring on the irrational exhuberance !