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Foraco International SA T.FAR

Alternate Symbol(s):  FRACF

Foraco International S.A. is a France-based company engaged in the mining, geological and hydraulic drilling sectors. The Company's principle business consists of drilling contracts for companies primarily involved in mining and water exploration. The Company operates in two business segments: Mining and Water. The Mining segment covers drilling services offered to the mining and energy industry during the exploration, development and production phases of mining projects. The Water segment covers all activities linked to the construction of water wells leading to the supply of drinking water, the collection of mineral water, as well as the control, maintenance and renovation of the existing installations. The Water segment also includes drilling services offered to the environmental and construction industry, such as geological exploration and geotechnical drilling.


TSX:FAR - Post by User

Comment by savyinvestor333on May 19, 2021 2:19pm
102 Views
Post# 33231100

RE:RE:News Out on Refinancing

RE:RE:News Out on RefinancingThe bad   Still alot of debt at $100 million and the interest rate is pretty high at 8.5% plus LIBOR. The good   Shares were deemed to be worth $1.80 U.S.in the exchange and there is an actual reduction in debt of $49 million. I guess as long as they can keep profits up and pay the interest payments there will be a good chance they get this balance sheet under control. Another company in the mining space that I own is ARG and they were was heavy in debt a year ago and now it is printing money.They have enough cash now to cover all debt so just goes to show that a turnaround can happen pretty quick if conditions are right.
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