I think the market has misread the detail of what the 6 million STX facility really is rather than the company being short of cash. The deal I'm guessing was Walyerling plus the 9 million cash they held remaining but TPD has remaining commitments funding in Mongolia and the last Walyerling production funding during this transition period. They needed about 6 million to cover this probably for 3 months until taken over and for some reason STX didn't want this debt exposure most likely due in a sense that STX would then be sinking 6 million into Mongolia if the facility was some sort of convertible debt to shares.
TPD Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held