Today's update was good news.
Expect Frontera to continue financing most of this JV.
I am a little curious as to what happened to the US$19M loan made to CGX Energy by Frontera in May 2021. It can be converted to shares which, it was announced at the time, can be converted to shares bringing FEC's interest in CGX up to 76.07%.
Was that loan already paid back? Or is the current bridge loan and expect rights offering supposed to cover that May 2021 loan?
Frontera is currently covered by only one analyst: Mike Murphy at BMO Capital Markets. Earlier this year, Frontera was conspicuously avoiding investor conferences. Is Frontera avoiding 'promotion' in order to allow the cost of capital to go up?