RE:Transcript from yesterday's WebcastThe Company repaid $16.7 million of its $480 million senior secured loan facility (the “Loan Facility”). At the end of the first quarter 2020 the outstanding balance on the Loan Facility was $367.3 million.
Add to this 367 million an additional $100 million to cover redemption of the debenture that matures in 2022, and we have $467 million , plus interest , that is scheduled to be repaid over the next 11 quarters.
Thats close to $44 million to be paid every quarter. No wonder they drew down the last $16 million .
POG is temporarily providing support , but look at the increasing tax liabilities, possible increases in opex due to Covid, and definite increases to opex when definition drilling recommences and capital projects restarts.
No wonder theres been no rush by the shorters to cover their position