don't think that is technically correct! As you said they are just bringing forward their receivables having sold, or factored, their invoices.Its their money, they are just getting it sooner. Nothing to do with debt. A rather clever move in that the interest on the notes are, say 13-14% @ 70-75c, where the factoring cost would likely be, say 2%.
Last time I was in DRA I bought at 5.6 -7.3C years ago with the first started in Sweden. It has come pretty much full circle. What is positive is that they have reduced their horrible hedging to virtually nothing and they now have 2 profitable mines, as announced. The nightmare start up is well behind them.
I have been buying back in and will continued until app 6c. Then let time and Gold price do the rest.
DRA Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
