I will wait to see the term sheet and if what has been reported is true I intend to go ham.
But you haven't waited at all, you and several others are ranting about a CR which is yet to be disclosed.
When I read the snippets that Samstunning posted, my interpretation is that none of it relates to the existing business.
We know Dyno funding is in place for the drills, and there would be a strict process around drawing down that facility. To say that part of the expansion is fully funded is true and correct.
The gas delivery business, which includes TPS, has to be funded separately. We do not currently have any evidence to suggest it isn't 'fully funded'. Yes, we can see the burn rate, but that, and the supply/demand/price of electricity are variables.
So, if the CR is for new initiatives, and the cash isn't going to be used to prop up MGP, then you judge it accordingly when the disclosure is made.
A lot of focus is on the 25% dilution. At the risk of stating the bleeding obvious, it isn't QPME that turned QPM into a $100M MC was it? You may want to ask yourselves where QPM might be today without QPME.
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