Title : The worst thing about TMAC Resources (TMR.to)...
link : The worst thing about TMAC Resources (TMR.to)...
The worst thing about TMAC Resources (TMR.to)...
...apart from that dumbass who writes IKN getting all cocky and shouting "hah toldyaso" at everyone, is that so far this week we've only had the good news out of TMAC. That news on completely scrapping the mill and eating a new U$475m (or so) in capex is the positive stuff, they still have to file their quarter.
As at September 30th 2019 (the last filing), TMR had C$141.6m debt facility open, born of the original Sprott start-up loan that went thru iterations and got spread out as it got larger. That is due to mature 2020 (with a 6 month option) and in most reasonable scenarios will have to be refi'd or booted further forward, but my stars that will weigh on the numbers now. The equity is worth zero, we're in that limbo period before the penny finally drops and we go to remnant value stage. If you are still in this and are licking your wounds, at least save yourself the final chapter of pain and get out now while the getting is good.
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