It seems like there could be pressure from the big share holders (Ron), (Pond Ventures) etc not to dilute anymore hence the $40m facility.
As i see it, this can be used for short term capital eg to pay the San Quinton project.
Having this facility allows any small delays to not be an issue when it comes to cash on hand. Use $7mil from loan get $5m back and pay the rest down when more receipts come in.
Hopefully this loan facility if signed will prevent any capital raising and get us through the next two or so years without it. Hopefully within this time frame the business is EBITDA positive and the bank account will grow.
FLC Price at posting:
47.0¢ Sentiment: Hold Disclosure: Held
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