Saltamonte, I may not be the sharpest tool in the shed but I still don't understand why. MOY raises ~$6M, $1.5M for potential acquisitions (not specific), a bit into working capital (~$1.26M), costs of raising (assume ~$0.3M) and the remaining $3.0M for "rebalancing"? From what you have said, MOY have agreed to take a lower average hedge price but deliver earlier, with the net impact being to reduce the value of the hedge (in dollars of the day value) by $3.0M. Accordingly, an increase in the DSRA to match the $3.0M is required under the finance agreement. Am I close? If yes, can I ask again - WHY?
MOY Price at posting:
37.0¢ Sentiment: None Disclosure: Held
