I think they need a new CFO. Someone who doesn't announce to the market we want to raise $250 million dollars sometime soon, and wait and see what happens to the share price.
However reading their last financial statement, DML have $110 of cash and liquid assets, and only $100+ of long term debt with the recent announcement that there are no breaches on covenants with banks and repayment has been largly delayed to 2015.
So why then do they want to refinance $250 of debt? Is this additional debt for expansion? For goodness sake put the company in trading halt, talk to a couple of IBs, get some leasing on the plant and equipment to free up cash and end the uncertainty which is killing the sp!
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I think they need a new CFO. Someone who doesn't announce to the...
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