RE:RE:RE:Debenture Holders Hair Cut or Windfall?Monkey, from what I read the money from sale does permanently reduce revolver as it should. they get some wiggle room if they get closer to 5-15 million balance due on revolver. They need to keep enough liguidity as a backstop for operations.
So in perfect world if they owe 35 million or so, and have the 22 million in cash and get the 14 million in vat or borrow against vat the revolver is paid but leaves zero liquidity
So maybe they get the 5 mil from mux soon, and maybe 5 mil from ops as their backstop with 6 mil more vat Owed to them.
And maybe they then get a new 15 million approved line on revolver approved by W to dig more veins for reserves.
Blah blah something like that. But as you say its what the big wigs want.