RE:Debenture Holders Hair Cut or Windfall?It could get ugly for W if converts take a haircut since debt is ahead of stream on food chain.
The last 20 trades of finra from about 6 months back show about 67 cents on dollar for debt, Thats a solid showing and does not indiicate they lose. The debt seeems to be a good buy to me.
On another note todays pay down of debt indicates about 33 million left on revolver
P has 22 million in cash
20 million Vat remaining, last qtr mexico paid 14 mil vat. I suspect P could borrow against Vat if required
5 million owed by mux, not sure when that gets refunded
a fat stockpile of ore at san dimas that should put 5 million in bank this qtr.
so we will see how they manage revolver. Maybe they keep a 10-15 million balance to keep 15 mil in bank..hard to say but its getting interesting that they may have handle on it and that was a non starter even 2 months ago