For me, debt is not positive. I prefer to buy free debt companies. I thought MRC can't obtain debt by banks. GMA deal is fair, even if I prefer a company with enough cash to invest without debt (warranty, covenants, interest rate, etc).
About dilution, your argument is a joke or a troll. I won't answer to a so huge stupidity.
When i invest in a mining i always have a look to the EV and EV/EBITDA. With debt and dilution, EV climb. It's not good for the ratio, but more important, it's bad for shareholders. You own less value.
Ann: Change in Substantial Holding, page-34
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