So in summary the company is now cash-flow positive, has a...

So in summary the company is now cash-flow positive, has a funding facility that hasn't been drawn down and may never be drawn down, has the ability to raise capital should the requirement arise. Seems like there is no imminent threat to me. Another positive is that the first loan facility only converts if the Glencore facility B converts and both facilities are subject to shareholder agreement where Pacific Road cannot vote. In a scenario where facility B converts to equity and Glencore becomes the dominant shareholder, it's hard to see Glencore then voting in favour of Pacific Road getting stock at 1 cent per share when they have paid 25 cents,

The Glencore thing needs to be resolved but presumably Glencore will now know that this is not going to be a walk in the park for them so in time will find a commercial solution. I could be wrong but i see these working capital facilities as a defensive measure to be able to legally demonstrate that the company is well supported and funded if Glencore make an argument that suggests insolvency.

I'm thinking about buying a few more and averaging down