RE:RE:AmazingThose surety bonds are usually purchased through insurance companies at a fraction of the cash value. I have had to purchase 4 or 5 of them on various projects. Can't see how that justified the PP.
I believe they did it for the reasons they said. They had expenses coming with more engineering, operations cost with Florence, and a need to have a decent looking balance sheet. They are also really afraid of a covid ahutdown and how that may impact cash flow. It was extremely cautious and defensive, it that is how this company at operates. They spend a lot on "insurance" like copper puts and fuel options.