RE:RE:RE:RE:RE:RE:RE:RE:RE:US$350 Million Notes OfferingWhat we are not valuing here: they just improved the leverage ratio by paying down $100M USD, and that becomes even lower if the "noteholders" excercise their warrants. That means the discount rate in valuation of Athabasca free cash flows is now much lower, which will effectively mean an increase in valuation.
We may see that $1.20 yet.