Aug. 17 at 8:43 PM
$PESI probably see some selling on any uptick for a while until the rate of cash burn, and increasing cap ex requirements for the Hanford ramp and PFAS become clearer. The company likes to raise capital via equity w/three offers in 2+ years. Some argue a more certain cash flow from grouting at 200E and 200W could offer an opportunity to raise capital, via debt. Two problems w/that: 1. the cash flows have yet to be proven certain and delays (political, including the Dept. of Ecology agenda, and technical) are endemic to the business. Also, it's still IDIQ until at least January 2027 on 200W. 2. A decade or a bit longer ago the company carried debt in the high teens (IIRC
$18 million or so) and it nearly got them in deep trouble w/ a lot of "finessing" needed w/ PNC bank. They worked hard to get that debt down to near zero, and I think it really scared and scarred them. Never say never, but they have never gone deep to that debt well since then. "this time could be different".
