I agree that the funding is not new news, but the effective interest rate is news to me and it does change things in my book.
They took the funding on as they said they needed short term cashflow while they go through this transformational period, but at no point that I can remember did they allude to the funding cost being this high.
The cost of this funding wipes out most of the expected profitability from Athena for next year, so other than the takeover and possible farm-ins I can't see where the short term upside is coming from.
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