RE:Money needsJust a thought, but could SSRM be preparing to pay off the entire term loan of $193M? This would save the company appropriate 4% it is paying on that debt and eliminate any Libor interest rate risk on that debt until 2023. It would save the company roughly $10M in interest until 2023....not a huge chunk of cash, but probably worth it with capital just sitting there not being deployed.
By increasing the credit facility to $200M this eliminates any cash worries should things go bad (knock on wood).
Im sure they would have to pay some sort of additional penalty for paying off the debt early, but 4% is close to the yield that SSRM is currently giving shareholders with the dividend and stock buybacks. If it were me, removing that $193M would be a huge risk reduction move and I'm sure the market would like it.
Thoughts?