Credit where it's due: at least FFX didn't leave us hanging for too long. My guess is that the Docs feel more comfortable with FFX having more cash on hand as a fallback rather than to rely solely on gold revenue to fund ongoing drilling operations at and around Morila, and a CR aimed at the big end of town was the path of least resistance.
It's a bit hard to comment on debt when there isn't even a firm term sheet in place. That said, I'd expect it to be a line of credit type arrangement (probably involving short term bills on a rolling basis up to a specified limit) rather than a long term fixed bill or similar. Under an LOC with rolling short term bills, at least FFX's debt levels and interest would be kept to a minimum.
Will be interesting to see which instos take up this offer.
TBH I can see FFX's SP going back into the low-30s for a while (and possibly even the odd dalliance into the high-20s on really bad days) until more positive announcements wrt to resource upgrades and/or progress on the Goulamina transaction come out and start the upward grind again. Three steps forward, two steps back.
