9.75-10% on recent 350 million financing is not good news. No one else is paying more than a 3-4% for money these days. Lenders are demanding payment for the substantial risk that TC presents. Sorry Seabrook, this is not good new for shareholders.
I was not attempting to put lipstick on the fact they are increasing their service debt. But the lower interest rate on a larger loan vs. the terms they had to accept merely 6 months ago is a net positive. TC is getting near to the end of its tunnel of hell to build its new mine and the credit market are realizing this fact. Additionally, once the mine is up and running there very well may be substantial money left over for debt reduction.
Well you showed how totally clueless you are with this post. No one else is paying above 3-4%? Really? Funny how 99% of mining companies would be paying above your 4% these days for $350M, and many above that 9.75% mark. Such is the premium to pay in this crazy and unstable sector. But go invest in Apple for all means, I'm sure they can get their financing at 1%!