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1,551 Posts.

16

11/03/19

16:51

Post #: 37723201
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Originally posted by dougfr ↑

The following small etract from what is a very sad December report pretty much says it all:

"Following the buyer’s failure to close on the acquisition of our Foreman Butte assets in October 2018, and unless we find a new buyer for those assets, we
have limited options remaining to satisfy the conditions of our credit facility except to attempt to refinance our existing debt. To the extent we are successful
in our efforts to refinance our debt, we may be forced to accept terms that are less favorable to us. Additionally, given our financial position, we may be forced
to accept conditions that will be difficult to satisfy, which would increase the risk of a subsequent default and foreclosure on our assets. We can provide no
assurances we will be successful in our refinancing efforts or that, if we are successful, we will be able to avoid defaulting on the financial conditions imposed
by the refinancing agreement."

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Sigh news? ho hum, sigh meybe a little tears

SSN Price at posting: 1.5¢ Sentiment: None Disclosure: Held
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