RE:RE:RE:RE:RE:Primero Gets $7.5 Million Less for Black Fox ComplexIm not sure I would read too much into the 5 mil that P can drawdown again on revolver when they get it. It may have been a bone from revolver folks as P had no obligation to pay down revolver now. They could have just as easily kept it and went directly to CCAA. Maybe its used as DIP funds in CCAA as that goes to front of line.
Regardless, I agree its way better than stick in the eye. I also agree at this point unless the endgame has always been to bk Primero it may be smarter and easier to kick can down the road. No real point for CCAA imo, a takeunder by wheaton and revolver debt folks can still make new shareholders of P stock in this range a big winner. Roll the dice place your bets.