RE:One little thing worth noting That LOC has a carrying cost attached, so there is a reason. Plant expansion or asset purchase could be in the near future.
ramman1 wrote: Could be significant ,I dont know, but other than Birchcliff looking strong in the eye of creditors, why would Tonken get another 50 million added to the BIR credit line, ''unless'', he is looking at a purchase of some sort . Company is already highly cash flow positive, and money is already budgeted in current capex,for inlets condensate construction to the PC plant and all drilling for 2019 . This unused L.O.C ,with absolutely no covenants attached, as of last Q, was sitting at 312 mil .Thats a lot of coin that could be deployed very quickly ,if Tonken seen an opportunity. Very few companies have that luxury ,of a large unused l.o.c , totally independant of required company operations .