Interesting to see the shorts still trying to claim Mill is about to run out of cash any day now - LOL. This is coming from the same folks who claimed that Mill wouldn't close a bank credit line, which of course they did. Here's from Brawley's presentation on the conference call:
We currently have approximately $14 million of cash, we have $30 million available to draw under the revolver and we expect to receive another $20 million in tax credits in August. So we have approximately $64 million of near term liquidity plus revenue.
it used to be "water cut, water cut, water cut" (wrong), then "production decline, production decline, production decline" (production keeps increasing). Now it is "finance, finance, finance"... none are true.
really funny that the down-siders claim mill short on cash. what? in the past few months they have refinanced, added new financial backers as well as cash liquidity, done several significant deals, received payments from state, added to revenue through production. yes, scott likes to do deals. as a banker, he also knows the assets available. and ... the new cfo - that many were bashing a few months ago - is proving quite adept in the funds management area, not to mention that he came out of a p/e firm and knows what is possible and what is stretching.
so - they have a plane. they are building out an office in texas. the are sometimes dispersed around the country. they are also producing, following a plan as well as taking advantage of opportunities to add assets to the company.
personally, i think that since scott & boys did not get approval for their comp packages, they have decided to ramp the company larger to justify increased bonuses, even if it takes a bit longer. if the assets grow thorugh that, then i think our pps values will grow as well.