RE: MM Worth another listen13 Oct 2021 12:15
Bridge
“ Its not Masterman, its the fundamentals, or more specifically the debt.”
Debt is exactly what the shareholders wanted, to get the project into production!! No debt, no production, just a very nice chunk of countryside with some grazing horses and about 700 olive trees!!
So, this debt. What are we going to do about it? Well, we are going to pay it back!
How? When? With the massive rise in tin, ie $17k to $37k+ and with APT around $32 per tonne, we will be repaying the debt FASTER than the Shard report. When free cash flow increases and we prove that we can service the debt at 14%, there will be interest from other banks, preferably local Spanish banks, who want to step in and be seen to support a growing and successful business.
This only has to turn a corner and interest will FLOOD back in. La Parrilla has many more acres that have not been drilled. Some of us have been lucky enough to walk some of them and pick up some ore bearing rocks from the surface. Then we have Regua and Sao Martinho, plus there will be other opportunities that present themselves to a medium metal production company.
The first $1 in free cash flow will be very significant, imho.