OTCPK:JENGQ - Post by User
Comment by
Capharnaumon Apr 27, 2021 10:25pm
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Post# 33080147
RE:RE:RE:News from 2 days ago about ERCOT on JE website.
RE:RE:RE:News from 2 days ago about ERCOT on JE website.pointer wrote: I don't see how they have that much cash, even with the new DIP loan (debt). They might have that much "liquidity", which includes other debt they can draw on.
And that is $245M Canadian, while the cost of the Texas fiasco is up to $300M US, or $375 Canadian.
Well, they do say that they have $245M in cash in their news release (not in liquidity). They have also already paid some of the $300M US prior to April 19th (the date where they held $245M), so I guess there's hope that somehow they can pull through this.
I've been very critical of JE, but this is the first encouraging news I've seen from them.