photios ".....successful extension of existing loan facilities...."
If Fortis were confident in Mae they would be happy for MAE to keep the cash indefinately due to the high rates of interest being charged. Unfortunately Fortis have demanded their money back and have merely allowed MAE the time needed to hit shareholders for the money in an orderly manner. So I would suggest this represents a loss of confidence that MAE can acheive the task at hand. If next year and after $10mil in repayments MAe has turned things around and ramped up significant production Fortis may well extend the loan or even increase it, but until that time I would suggest Fortis are very concerned about seeing their money again.
MAE Price at posting:
8.5¢ Sentiment: Sell Disclosure: Not Held
